Sunday, 4 May, 2025

UK to Ban Crypto Purchases with Borrowed Funds to Protect Retail Investors

The UK's Financial Conduct Authority (FCA) plans to prohibit consumers from using borrowed funds, including credit cards and e-money credit lines, to purchase cryptocurrencies. This move aims to enhance consumer protection as the country introduces formal regulations for the crypto sector. The FCA also proposes stricter access to crypto lending products and suggests implementing credit checks and investment experience assessments for retail investors.