This petition was submitted during the 2019-2024 parliament
Rejected petition Ban high leverage crypto trading operations in UK.
I want the Government to put legislation in place that would severely curtail (or ban) the ability for crypto exchanges to offer high leverage trading operations.
I want the Government to recognise such operations as disguised gambling and to force operators to label their products as gambling.
More details
The high leverage trading platforms offer such extreme levels of risk that it is nearly impossible for the average investor/trader to control that risk.
The high leverage trading platforms in the FX domain do not offer nearly the same level of risk being that FX currency pairs only move very small percentage points per day.
On crypto exchanges crypto pairs move many percentage points per day, often moving over 100%.
This level of risk frequently leads to total loss of funds.
This petition was rejected
Why was this petition rejected?
It’s not clear what the petition is asking the UK Government or Parliament to do.
Petitions need to call on the Government or Parliament to take a specific action.
We understand that you are concerned about certain financial transactions, but we're not sure exactly what you'd like the Government or Parliament to do. It's not clear if you want the Government to extend the definition of gambling, ban certain transactions, introduce new regulation, or do something else.
You could start a new petition explaining clearly what you would like the Government or Parliament to do.
We only reject petitions that don’t meet the petition standards.