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UK’s FCA Slams the Brakes on Crypto Credit Purchases—Because Nothing Says ’Financial Prudence’ Like Protecting People From Themselves
UK’s FCA Slams the Brakes on Crypto Credit Purchases—Because Nothing Says ’Financial Prudence’ Like Protecting People From Themselves
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The Financial Conduct Authority just dropped a regulatory hammer: Britons can no longer buy digital assets using credit lines. No more levering up to chase Bitcoin rallies or YOLO-ing into memecoins with borrowed cash.
Why the crackdown? Same old song—volatility risks, consumer protection theatrics, and that classic regulatory favorite: ’asymmetric information.’ Because apparently adults need nannies when it comes to crypto, but can somehow handle 30x leverage on forex.
Meanwhile, traditional finance keeps rubber-stamping subprime mortgages and overdraft fees that’d make a loan shark blush. Priorities, right?
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