The UK Parliament recently convened to discuss the contentious new football trading platform, KiX, raising apprehensions reminiscent of the collapsed gaming platform Football Index. Minister Liz Twist voiced doubts regarding the safety and integrity of KiX, particularly following revelations linking disgraced Football Index founder Adam Cole to the project.
Football Index, a football trading platform leveraging cryptocurrency and NFTs, left thousands of clients financially stranded upon its liquidation. The platform's license was suspended in 2021 amid a slew of issues, including policy alterations and a significant stock market downturn.
Expressing her concerns, Twist emphasized the need to prevent constituents from falling victim to schemes mirroring the pitfalls of Football Index, underscoring the importance of drawing lessons from past failures. Lawmakers from various political parties echoed Twist's sentiments, cautioning against the proliferation of innovative gambling products that could potentially lead to further financial crises.
