French Authority Says Cryptocurrencies Should Be Regulated

France's financial regulator has said that financial products based on cryptocurrencies should be formally regulated as derivatives, meaning online trading platforms will need authorisation to offer them and can no longer advertise them online. In one of the first moves of its kind by an EU regulator, the Autorité des Marchés Financiers said that it considered complex financial contracts that allow investors to bet on the price movements of a cryptocurrency without actually holding the underlying as, legally speaking, derivatives.