[06-04-2018]Financial Conduct Authority Warns that Crypto Derivatives To Approve

[bitzamp.com]

Financial Conduct Authority Warns That Crypto Derivatives Needs To Be Approved
The British financial regulator on Friday said that companies offering services linked to cryptocurrency derivatives must comply with all the relevant rules of the improvisation manual.

Companies that have offerings to their clients in the likes of; CFDS, futures, options all crypto related, must comply with FCA rules, in addition to that of the European Union The Financial Conduct Authority (FCA) does not currently regulate cryptocurrencies.

The invention also relates to processing transactions or providing other derivative-related services that refer to cryptocurrencies or tokens issued via an Initial Coin Offering (ICO) would probably require its authorization.
This includes cryptocurrency futures, cryptocurrency contracts for differences (CFD) and cryptocurrency options, it said.

Read More: https://bitzamp.com/financial-conduct-authority-warns-that-crypto-derivatives-needs-to-be-approved/

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[1715409166]

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[numizmat]

It is really a great news, it would help avoid lots of future scams. That's why it seems for me what some recent UK ICOs, designed according with UK legislation seems worth investing. LCCX is a good example - they already work with UK Financial Conduct Authority, located in London - It will prevent the unpredictable jurisdiction. They even have a team with previous FCA background: https://lccx.io/#team_section Their idea of keeping client fund in offline mode using cold storage vaults for 60% - 75% percent is also really viable. It is a very wise approach to crypto - to be 100% legal these days.