Submitted on Saturday 10th October 2020
Rejected on Tuesday 27th October 2020
Current status: Rejected
Rejection code: irrelevant (see below for details)
Reverse the FCAs decision to ban sales of crypto-derivatives to retail consumers
On the 6th October the financial conduct authority announced it was banning crypto derivatives sales to retail consumers. How can consumers be able to gamble 1000s of pounds on a football match but not be able to purchase crypto derivatives with often a much lower risk? Please reverse the decision.
It's double standards. A consumer can go and play the lottery, gamble large amounts on sports betting but can't do the same with crypto derivatives (often not gambling at all when using the correct tools and knowing when to use a stop loss). The FCA have banned it as they want to protect the consumer. It's the gambling industry they want to look at first. This is a terrible decision.
You can't sign this petition because it was rejected. But you can still comment on it here at Repetition.me!
The Government e-Petitions Team gave the following reason:
We can't accept your petition because the UK Government and Parliament aren't responsible for the issue you raise. The FCA is operationally independent and the Government cannot overturn its decisions. You could ask the UK Government and Parliament to review how the FCA makes its decisions, if that's something that you'd like to happen.
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