Rejected petition Reverse the FCAs decision to ban sales of crypto-derivatives to retail consumers
On the 6th October the financial conduct authority announced it was banning crypto derivatives sales to retail consumers. How can consumers be able to gamble 1000s of pounds on a football match but not be able to purchase crypto derivatives with often a much lower risk? Please reverse the decision.
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It's double standards. A consumer can go and play the lottery, gamble large amounts on sports betting but can't do the same with crypto derivatives (often not gambling at all when using the correct tools and knowing when to use a stop loss). The FCA have banned it as they want to protect the consumer. It's the gambling industry they want to look at first. This is a terrible decision.
This petition was rejected
Why was this petition rejected?
It’s about something that the UK Government or Parliament is not directly responsible for.
We can't accept your petition because the UK Government and Parliament aren't responsible for the issue you raise. The FCA is operationally independent and the Government cannot overturn its decisions. You could ask the UK Government and Parliament to review how the FCA makes its decisions, if that's something that you'd like to happen.
We only reject petitions that don’t meet the petition standards.