Major Exchanges Urge UK Regulator to Not Restrict Crypto Derivates

The World Federation of Exchanges (WFE), a global trade association of publicly-regulated exchanges that includes the world’s major stock exchanges such as Nasdaq and the London Stock Exchange, has appealed to the United Kingdom’s Financial Conduct Authority (FCA) to not restrict cryptocurrency derivatives for all retail investors. Currently, FCA is considering the restriction after concluding that major cryptocurrencies are “exchange tokens” which do not fall under the regulatory scope of FCA and are outside its regulatory purview.