UK’s FCA Slams the Brakes on Crypto Credit Purchases—Because Nothing Says ’Financial Prudence’ Like Protecting People From Themselves
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?