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Author Topic: European Securities and Markets Authority restricts crypto leverage to 2.1  (Read 59 times)
European Central Bank
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March 30, 2018, 07:07:12 PM
 #1

https://www.esma.europa.eu/press-news/esma-news/esma-agrees-prohibit-binary-options-and-restrict-cfds-protect-retail-investors

will this affect anyone a great deal or will people just shrug it off and take their business elsewhere?

if there's one thing i've learnt about the people who trade this stuff, they'll take risky degeneracy over the safer and lower option every single time.

what is the reach of this organisation? could there be a US style freeze of EU customers looking for leverage elsewhere?
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March 30, 2018, 08:34:29 PM
 #2

https://www.esma.europa.eu/press-news/esma-news/esma-agrees-prohibit-binary-options-and-restrict-cfds-protect-retail-investors

will this affect anyone a great deal or will people just shrug it off and take their business elsewhere?

if there's one thing i've learnt about the people who trade this stuff, they'll take risky degeneracy over the safer and lower option every single time.

what is the reach of this organisation? could there be a US style freeze of EU customers looking for leverage elsewhere?

F***c, yes, it will affect a lot of traders who are doing margin trading. I'm one of them. 2:1 on cryptocurrencies is nothing. 30:1 for major currency pairs is much better...

How will they force Asian exchanges to do it? Only over EU customers or?


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European Central Bank
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March 30, 2018, 08:59:44 PM
 #3

F***c, yes, it will affect a lot of traders who are doing margin trading. I'm one of them. 2:1 on cryptocurrencies is nothing. 30:1 for major currency pairs is much better...

How will they force Asian exchanges to do it? Only over EU customers or?

i'm guessing it's gonna be the same as american customers trying to get on exchanges, the exchanges will refuse to do business with them.

i think we're beyond the phase where exchanges completely ignore rulings, but i guess there'll be a handful that still don't care.
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March 30, 2018, 09:16:14 PM
 #4

what is the reach of this organisation? could there be a US style freeze of EU customers looking for leverage elsewhere?

i was wondering the same. but i doubt we'll see freezes/seizures for noncompliance like when the US government shuts down exchanges. i've never heard of european regulators having any real authority.

in theory, they could target bank accounts held by non-compliant exchanges in most of europe, but that probably won't have much effect on the china/hong kong exchanges or bitmex. and bitfinex seems pretty good at avoiding bank seizures. they could just affirmatively ask customers if they reside under european authority and lower leverage too. they only do 3.3x leverage anyway.

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March 30, 2018, 09:56:53 PM
 #5

https://www.esma.europa.eu/press-news/esma-news/esma-agrees-prohibit-binary-options-and-restrict-cfds-protect-retail-investors

will this affect anyone a great deal or will people just shrug it off and take their business elsewhere?

if there's one thing i've learnt about the people who trade this stuff, they'll take risky degeneracy over the safer and lower option every single time.

what is the reach of this organisation? could there be a US style freeze of EU customers looking for leverage elsewhere?
Probably the affect shouldn't be exorbitant, it's EU's regulators we are talking about. People will definitely not take their businesses elsewhere for obvious reasons, but you cannot be so sure on what will happen. Great deal or not, better watch out for these people. If they have come at crypto users once, they will come again  and they will not stop at anything. Be ready for every single move they make.


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March 30, 2018, 10:00:05 PM
 #6

Oh wow. I did not expect any european authority to jump in with such bold actions. Sadly or not, there's no way to enforce this fully though. Companies that work with crypto operate online for the most part so far and they can easily avoid this by changing their company registration to an offshore one. This is lost business for the EU.

Further, this hinders the growing market for crypto securities by larger, EU based, licensed organizations. Some startups might be put on pause just by that decision alone.
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March 31, 2018, 08:21:31 AM
 #7

https://www.esma.europa.eu/press-news/esma-news/esma-agrees-prohibit-binary-options-and-restrict-cfds-protect-retail-investors

will this affect anyone a great deal or will people just shrug it off and take their business elsewhere?

if there's one thing i've learnt about the people who trade this stuff, they'll take risky degeneracy over the safer and lower option every single time.

what is the reach of this organisation? could there be a US style freeze of EU customers looking for leverage elsewhere?

F***c, yes, it will affect a lot of traders who are doing margin trading. I'm one of them. 2:1 on cryptocurrencies is nothing. 30:1 for major currency pairs is much better...

How will they force Asian exchanges to do it? Only over EU customers or?

This is relevant for CFDs as I have understand it from that paper. Neither crypto futures , nor crypto margin trading in general! So this won't have any effect for Europeans how trade on Bitfinex, Bitmex or Poloniex imo.
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March 31, 2018, 09:14:39 AM
 #8

Now it’s European authorities giving some restrictions.. The government is slowly and absolutely ensuring the death of cryptocurrency in each area of concern,, but does the crypto community will just disappear in batches and gradually pooping like bubbles.. We’re strongly holding our position and grip our stands as a freedom fighter for our democratic right to choose from what is best for us..

It will affect the price,, but remember the harder they hit us the stronger we become..

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March 31, 2018, 09:58:33 AM
 #9

Now it’s European authorities giving some restrictions.. The government is slowly and absolutely ensuring the death of cryptocurrency in each area of concern,, but does the crypto community will just disappear in batches and gradually pooping like bubbles.. We’re strongly holding our position and grip our stands as a freedom fighter for our democratic right to choose from what is best for us..

It will affect the price,, but remember the harder they hit us the stronger we become..

Have you read the paper???!!!
What restrictions do you read there except the leverage of CFDs connected to crypto?? Because I can't find them!! Who is trading this by the way? Anybody here using a broker to trade crypto related CFDs??
I'd say almost nobody here. All real coiners here use the known exchanges to trade crypto directly on spot, via futures or margin.
But there are no words about restricting futures trading, margin trading or out of jurisdiction exchanges. None! So relax! This will have no effect for the most traders here.
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