CySEC sets new rules on cryptocurrency trading

M

mlawson71

The Cyprus Securities and Exchange Commission (CySEC) has set limitations on the trading conditions of CFDs on cryptocurrencies offered by its charges.

Probably the most significant part of the document concerns the banning of exercising of EU passporting rules when offering CFDs on cryptocurrencies. In other words, if trading in cryptocurrencies or products with them is forbidden in a given EU or third country, the broker should not offer those products in it.

Also, under the new rules, the brokers must not offer to retail clients a leverage of more than 1:5 on those instruments and the volume of crypto CFDs should not exceed 15% of the total turnover of the broker per quarter.
 
mlawson71 said:
The Cyprus Securities and Exchange Commission (CySEC) has set limitations on the trading conditions of CFDs on cryptocurrencies offered by its charges.

Probably the most significant part of the document concerns the banning of exercising of EU passporting rules when offering CFDs on cryptocurrencies. In other words, if trading in cryptocurrencies or products with them is forbidden in a given EU or third country, the broker should not offer those products in it.

Also, under the new rules, the brokers must not offer to retail clients a leverage of more than 1:5 on those instruments and the volume of crypto CFDs should not exceed 15% of the total turnover of the broker per quarter.
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What about FCA regulation? I have both tickmill and hotforex accounts to trade bitcoin, seems this gonna cap trading with HF, but FCA regulated brokers seems to have been staying untouched yet.
 
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