B2C2 licensed for crypto derivatives trading in UK

Posted 01 February, 2019

The Financial Conduct Authority (FCA) awarded the OTC platform B2C2 an approval to work with crypto derivatives.

The leading OTC platform and liquidity provider B2C2 announced January 31 that its British branch that deals with over-the-counter trading B2C2 OTC Ltd is now licensed to Bitcoin Cash, Ethereum, Litecoin and XRP futures or crypto contracts for difference (CFD) under the regulation of UK FCA.

"We are excited to have received authorisation from the FCA to introduce a cryptocurrency CFD product. Eligible counterparties and professional clients can now gain derivative exposure to the cryptocurrency markets, benefiting from the competitive pricing and liquidity they’re accustomed to receiving from B2C2 while avoiding the risks associated with crypto custody," commented in the press release B2C2 CEO and founder Max Bunen.

He also believes that CFDs’ advantage lies in the fact that they eliminate risks associated with the storage of crypto assets.

Notably, the British government tightened the regulation of the crypto industry and their derivatives. Moreover, the FCA may still even ban crypto futures, since earlier it warned about CFDs. The entity stressed that CFDs are a rather high-risk and speculative way for investments.

Nevertheless, later the FCA announced it would likely authorize crypto futures, as they correspond to the existing regulations.

Although the regulator has been mulling over plans to tighten control over the crypto industry and even designed guidance to regulate cryptos in the country, it still adopted a more flexible approach regarding the blockchain technology, allowing crypto startups to participate in its regulatory sandbox. 

Previous story

01 February, 2019 17:37

← One more NY BitLicense issued to bitcoin ATM operator

The New York State Department of Financial Services (NYDFS) reportedly issued one more BitLicense to a BTM operator. This time, the license was given to Cottonwood Vending LLC, which now can run business in New York. Cottonwood Vending LLC became the third platform authorised by New York authorities in 2019. Aniello Zampella, Cottonwood founder and CEO, said that people can both purchase and sell bitcoin for cash via its kiosks.

One more NY BitLicense issued to bitcoin ATM operator

Next story

01 February, 2019 15:43

Oil shows slight fluctuations on Friday →

The benchmark oil stays practically unchanged during the Friday trading after the hikes observed over the past month. For now, the market is sеudying economic reports from China as well as the results of the recent US-China talks round. On Friday, the April Brent futures on the ICE Futures reached some $60.90/bbl. WTI futures for March shipment at NYMEX slightly decreased to some $53.67/bbl. As a result, the Brent prices gained 15% over January and WTI ones – 18%.

Oil shows slight fluctuations on Friday
Write a comment
 
Prove you’re not a bot + 6 = 13