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AFM's Gerween Prompts a Warning to Avoid Crypto Derivatives Trade

AFM's Gerween Prompts a Warning to Avoid Crypto Derivatives Trade

AFM's Gerwen implies that individual investors should avoid crypto derivatives trading.

The head of AFM Paul-Willem van Gerwen stated that the crypto derivatives exchange should be limited to the wholesale trade only. He outlined several reasons, including the danger of any illegal conduct, lack of transparency, and market manipulation.

As crypto derivatives trading is gaining momentum in the market, the AFM considers such trades risky and suggests that the market is not developed well enough. The problem that arises due to the crypto-related products' instability questions whether “the parties to the derivative transaction will be in a position to fulfill their promises.”

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However, Gerwen also noted several positive things. During the Amsterdam Proprietary Traders Managers Meeting, he expanded on the importance of utilizing blockchain in clearing operations, while also adding:

“In principle proprietary traders don’t get involved in clearing. And yet the technological developments could lead to a situation in which a peer-2-peer model arises, with proprietary traders possibly starting to engage in clearing themselves.”

However, the Dutch regulator said that cryptocurrency cannot be held as an acceptable payment or investment method, at least for now.

Even though the UK has already banned various cryptocurrency exchanges and closed down crypto ATMs, the AFM has not yet followed this path. Instead, the Authority gave a warning and suggested the public not take part in retail trading. “Don’t get caught up in the excitement of this trading, don't let yourself be tempted into retail trading," Gerwen added.

Aaron S., Editor-In-Chief
Having completed a Master’s degree in Economics, Politics, and Cultures of the East Asia region, Aaron has written scientific papers analyzing the differences between Western and Collective forms of capitalism in the post-World War II era.
With close to a decade of experience in the FinTech industry, Aaron understands all of the biggest issues and struggles that crypto enthusiasts face. He’s a passionate analyst who is concerned with data-driven and fact-based content, as well as that which speaks to both Web3 natives and industry newcomers.
Aaron is the go-to person for everything and anything related to digital currencies. With a huge passion for blockchain & Web3 education, Aaron strives to transform the space as we know it, and make it more approachable to complete beginners.
Aaron has been quoted by multiple established outlets, and is a published author himself. Even during his free time, he enjoys researching the market trends, and looking for the next supernova.

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