IG Securities to Discontinue Cryptocurrency ETF CFD Trading Following New FSA Guidelines

IG Securities announced on the 17th that it will discontinue handling CFD trading based on cryptocurrency ETFs as underlying assets. This decision follows the Financial Services Agency's (FSA) revised 'Q&A on Financial Instruments and Exchange Act' issued on October 31, which articulated its stance on cryptocurrency ETF CFDs. In the revised Q&A, the FSA expressed that handling derivative products based on cryptocurrency ETFs formed overseas is 'undesirable'. Amidst regulations that do not permit the formation or sale of cryptocurrency ETFs within Japan, the handling of derivatives based on overseas cryptocurrency ETFs...