. This compares with a total market capitalization of around $200 billion just two years ago.
The FCA's Mills said the regulator has evidence of retail investors losing massive volumes on trading crypto-derivatives and the ban would provide them an appropriate level of protection. But the ban does not imply that the sale or use of Bitcoin itself would be hindered, according to Danny Scott, CEO and co-founder at CoinCorner.
"Recently the UK FCA introduced an option for Bitcoin and cryptocurrency companies to register with them as a first step towards forming a regulatory framework around such assets," Scott said. "They're comfortable with these assets and seemingly have a pro stance, they're just not comfortable with companies packaging them up in traditional trader focused products that the everyday person doesn't understand, yet has easy access to via some services.", citing unreliable retail consumer assessments of"complex contracts built on top of complex assets.
That might even make bitcoin more appealing to British investors as we all know by now that Brits don't like being told what to do...and in a worse case scenario, it won't change bitcoins value...
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This is why you want your wealth stored in physical precious metals that are untraceable off the grid.