No Crypto Derivatives For You! Says UK Crypto Authority
Plus Galaxy gets in on the mining game (sorta)
Happy Tuesday, Blockfolians
Hot on the heels of last week’s big CFTC and DOJ action against BitMEX, the UK’s Financial Conduct Authority has taken dramatic action against crypto derivatives products - outright banning them for retail investors.
The action is, of course, pretty patronizing.
Still, while most people in crypto are against their decisions being limited by regulators, there were still some commentators suggesting that this was actually good for the space as a whole.
In general, we’re pretty big fans of giving people more, not less, choice.
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Highly Relevant Reading
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A Really Big Number We Should Be Paying Attention To
That’s the volume of crypto-friendly Silvergate Bank’s Silvergate Exchange Network for bitcoin and stablecoins.
This is how bitcoin do.