Submitted on Thursday 23rd December 2021
Rejected on Thursday 30th December 2021
Current status: Rejected
Rejection code: no-action (see below for details)
Ban high leverage crypto trading operations in UK.
I want the Government to put legislation in place that would severely curtail (or ban) the ability for crypto exchanges to offer high leverage trading operations.
I want the Government to recognise such operations as disguised gambling and to force operators to label their products as gambling.
The high leverage trading platforms offer such extreme levels of risk that it is nearly impossible for the average investor/trader to control that risk.
The high leverage trading platforms in the FX domain do not offer nearly the same level of risk being that FX currency pairs only move very small percentage points per day.
On crypto exchanges crypto pairs move many percentage points per day, often moving over 100%.
This level of risk frequently leads to total loss of funds.
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:
Petitions need to call on the Government or Parliament to take a specific action.
We understand that you are concerned about certain financial transactions, but we're not sure exactly what you'd like the Government or Parliament to do. It's not clear if you want the Government to extend the definition of gambling, ban certain transactions, introduce new regulation, or do something else.
You could start a new petition explaining clearly what you would like the Government or Parliament to do.
18.189.2.122 Tue, 23 Apr 2024 22:22:56 +0100
