2 years ago
Jack Schickler is simply a CoinDesk newsman focused connected crypto regulations, based successful Brussels, Belgium. He doesn’t ain immoderate crypto.
Crypto derivatives trading should beryllium restricted to wholesale markets, a elder Dutch fiscal regulator said recently.
The comments suggest Dutch supervisors privation to join the U.K. successful banning entree to options and futures based connected virtual assets for regular retail customers, adjacent if they don’t yet person the powerfulness to bash so.
“I support that the commercialized successful crypto derivatives should beryllium restricted to wholesale trade,” said Paul-Willem van Gerwen, Head of Capital Markets and Transparency Supervision astatine the Dutch Authority for Financial Markets (AFM). He cited the risks of markets that are opaque, arsenic good arsenic prone to manipulation and different transgression activity.
The comments by van Gerwen were fixed successful a code past week and posted connected the AFM website Tuesday.
Van Gerwen cited restrictions that already person been imposed by the U.K. Financial Conduct Authority successful 2020 that efficaciously bounds trading to nonrecreational financiers, adding that, successful the Netherlands, “we haven’t done so, yet.”
Amsterdam is simply a hub for galore kinds of fiscal trading – each the much truthful since, post-Brexit, U.K. venues person been barred from European Union markets.
The AFM has already projected restrictions connected retail trading successful much accepted fiscal instruments specified arsenic turbo leveraged products. The AFM does not person akin powers implicit crypto markets, but whitethorn get them erstwhile an EU instrumentality known arsenic the Markets successful Crypto Assets Regulation (MiCA) takes effect, an AFM spokesperson told CoinDesk.
Van Gerwen said helium wanted to spot much experiments utilizing distributed ledger exertion (DLT) to enactment trades, which helium said could chopped costs. But helium warned that determination would ever request to beryllium centralized authorities successful lawsuit a transaction gets bungled.
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Jack Schickler is simply a CoinDesk newsman focused connected crypto regulations, based successful Brussels, Belgium. He doesn’t ain immoderate crypto.
Jack Schickler is simply a CoinDesk newsman focused connected crypto regulations, based successful Brussels, Belgium. He doesn’t ain immoderate crypto.
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