Wires

UK markets watchdog proposes retail ban on crypto derivatives

LONDON, July 3 (Reuters) - Britain's markets watchdog said on Wednesday it was proposing to ban the sale of derivatives based on crypto-assets to retail consumers.

"The Financial Conduct Authority considers these products are ill-suited to retail consumers who cannot reliably assess the value and risks of derivatives or exchange traded notes (ETNs) that reference certain cryptoassets," the FCA said in a statement.

(Reporting by Huw Jones, editing by Kirstin Ridley)