Cryptocurrencies
The question
To ask the Chancellor of the Exchequer, if she will make an assessment of the potential merits of reviewing the ban on retail derivatives for crypto.
Answered by Tulip Siddiq
Whether to allow the sale of cryptoasset derivatives to retail consumers is a matter for the independent Financial Conduct Authority (FCA). The FCA has stated that it considers these products to be ill-suited for retail consumers because they cannot be reliably valued and therefore risk posing harm.
The Government has confirmed its intention to proceed with creating a financial services regulatory regime for cryptoassets. Once in place, this regime will help ensure appropriate protections for customers wishing to invest in cryptoassets, and associated products.
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