B2C2 Have Received Authorisation to Offer Cryptocurrency Derivatives in the UK
By Luke Flowers – Crypto Speculator
One of the leading cryptocurrency market makers, B2C2 has announced on the 1st February 2019 that it has been given the go ahead to offer crypto derivatives in the UK. The subsidiary has been named B2C2 OTC Ltd and has been regulated by the Financial Conduct Authority (FCA) to organise and deal with cryptocurrency Contracts for Difference (CFDs).
With CFDs, traders can predict price changes particularly in buying and selling Bitcoin, which will give more of an opportunity to benefit from the rise and fall of the market by going short or long.
The founder of the firm, Max Boonen, stated, “eligible counterparties and professional clients can now gain derivative exposure to the cryptocurrency markets” while avoiding risks related to cryptocurrency custody services, which sounds great for safer Bitcoin investing. The FCA has been known to issue warnings around CFDs and had said: “Cryptocurrency CFDs are an extremely high-risk, speculative investment. You should be aware of the risks involved and fully consider whether investing in cryptocurrency CFDs is appropriate for you.”
With the support and authorisation of the FCA it is a big win for crypto derivative products. In April 2018 the FCA had said, “firms conducting regulated activities in cryptocurrency derivatives must, therefore, comply with all applicable rules in the FCA’s Handbook and any relevant provisions indirectly applicable to European Union regulations.”
The regulators have started to be more positive with areas of buying crypto and blockchain technology. B2C2 has been bridging the gap between traditional financial infrastructure and cryptocurrency assets since 2015 offering trusted Bitcoin products. The firm is based in the UK and you can buy Litecoin, Bitcoin, Ethereum and many more.
If you want to buy or sell large quantities of cryptocurrency then we have our OTC Bitcoin desk, click here and we are always happy to help you buy Bitcoin UK.