THELOGICALINDIAN - According to a new address a French bazaar regulator has started arise bottomward on online trading platforms that action cryptocurrency derivatives
With the contempo acceleration for cryptocurrencies worldwide, abounding trading platforms accept started alms bifold options, contracts, and acquired articles angry to above cryptocurrencies like Bitcoin, Litecoin, and Ethereum. These new trading articles accept fatigued the absorption of several authoritative agencies in Europe. One of them is the French Autorite des Marches Financiers, which stated:
The French watchdog additionally apprenticed online platforms that action such articles to appropriately address their business advertisement and stop announcement their cryptocurrency articles electronically. According to a contempo Bloomberg report, two companies that action such articles are Plus500 and IG Group.
The Paris-based AMF isn’t the alone babysitter that took a attitude apropos cryptocurrency bifold options. Back in January 2024, the European Securities and Markets Authority (ESMA), may absolute the advantage of bifold options and conceivably alike absolutely prohibit their business and administration or auction to retail investors in the European Union.
This isn’t the aboriginal time France or addition European country has apprenticed for Bitcoin and cryptocurrency regulations. On February 9, 2018, an commodity the Telegraph acclaimed that France and Germany’s abridgement chiefs alleged for added regulations on Bitcoin, cryptocurrency and added basic currencies trading. Finance ministers and axial bankers are afraid that cryptocurrencies may affectation “substantial risks for investors”.
The new proposed regulations are aimed to combat money-laundering, tax evasion, and terrorist financing. In a letter beatific to all G20 accounts ministers, the French and German finance ministers did not alone abode the risks of able cryptocurrency trading, but they additionally categorical the allowances that cryptocurrencies and blockchain technology may action to assorted industries and sectors.
What do you anticipate about the watchdog’s accommodation on? Do you anticipate that cryptocurrency-based bifold options should be regulated? Let us apperceive in the comments below!
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