The ban on the sale of cryptocurrency derivatives to private investors in the UK went into effect today.

According to the report, the UK's Financial Institutions Authority (FCA) went into effect today (January 6) with a ban on the sale of cryptocurrency derivatives and written swaps for consumer goods. As previously reported, the British Monetary Fund held an election in November 2018 asking whether to restrict the sale of cryptocurrency profits to a trader and announced a ban in October 2020. The FCA said that due to various factors such as the high volatility of cryptocurrencies, derivatives were not suitable for consumers. This restriction applies to all companies doing business in the UK or UK.