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UK lifts ban on retail crypto ETNs, signaling efforts to become a cryptocurrency hub
Summary: According to reports from Cointelegraph, the UK financial regulatory authority has lifted the ban on crypto exchange-traded notes (cETNs) for retail investors, allowing individuals to make their own risk choices. This move, supported by the industry, is seen as a step for the UK to align with the global crypto market and strengthen its position ...
According to reports from Cointelegraph, the UK financial regulatory authority has lifted the ban on crypto exchange-traded notes (cETNs) for retail investors, allowing individuals to make their own risk choices. This move, supported by the industry, is seen as a step for the UK to align with the global crypto market and strengthen its position as a digital asset hub.
Last Friday, the Financial Conduct Authority (FCA) announced the lifting of the ban on retail investor trading of cETNs, with the regulatory changes taking effect on October 8. The ban was implemented in January 2021 due to extreme market volatility and lack of legitimate investment demand.
The lifting of the cETN ban reflects a shift in regulatory attitudes towards crypto assets. A senior FCA official stated in a release that this decision reflects the market's development and increased public understanding of crypto-related products. Despite lifting the ban on cETNs, the regulatory authority clarified that crypto derivatives are still prohibited.
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