UK FCA Bans Sale of Crypto Derivatives and ETNs – October 6

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📈 30 Second Cryptocurrency Price Summary

Current Bitcoin Price$10,726

Bitcoin price has formed a range in the $10,700s today, as it failed to break the $10,800 resistance mark.

Top-20 altcoins look stable, as Ethereum remains unchanged, XRP rises 3%, and Monero shows the day’s largest rise of 5%.

Top Stories for October 6, 2020 🔥

👉UK FCA Bans Sale of Crypto Derivatives and ETNs

The UK Financial Conduct Authority (FCA) has officially banned the sale of cryptocurrency derivatives and exchange-traded notes.

The FCA claims that the trading products are unsuitable for retail consumers, posing danger to them due to inadequate understanding and high volatility.

Under the new rules, the sale, marketing and distribution of such products to retail investors in the UK will be illegal, as of January 6, 2021.

👉 SEC Sues John McAfee for ICO Promotions

The U.S. Securities and Exchange Commission (SEC) has filed a lawsuit against John McAfee for his promotion of various ICOs in 2017 and 2018.

McAfee has been accused of failing to disclose that he was paid for the promotions, as well as falsely claiming to be an investor or advisor for some of the projects.

He was also reportedly arrested in Spain today for tax evasion.

👉 Metamask Passes 1 Million Monthly Users Amid DeFi Craze

Popular Ethereum browser wallet Metamask has passed one million monthly active users, in part thanks to the recent decentralized finance (DeFi) boom.

Metamask have noted that their users’ most favored protocols included the likes of Uniswap, Yearn Finance and several other DeFi applications.

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