The United Kingdom's Financial Conduct Authority (FCA) has proposed a ban on purchasing cryptocurrency assets using credit, including credit cards and loans. This move aims to address concerns over rising consumer debt linked to the volatility of digital assets. The proposal follows findings from a recent FCA-commissioned YouGov survey, which indicated that 14% of UK consumers have engaged in buying crypto with credit. The ban targets retail crypto traders and reflects regulatory efforts to mitigate financial risks associated with crypto investments. Similar concerns have been noted in Canada, although specific regulatory actions there have not been detailed.
Canada is so COOKED.. 👀 https://t.co/HmLV9dEQ4K
LATEST: The UK's Plans to Ban Retail Crypto Traders From Buying Listen for the details... https://t.co/S0Ue0Z3qO2
BREAKING: UK Set to Ban Buying Crypto with Credit Cards and Loans UK and Canada are so fucking cooked.