UK will open $930bn in savings to crypto — if regulators approve – DL News
- The UK’s financial regulator is about to lift a ban on crypto exchange-traded notes.
- It could open crypto investments to $930bn in tax-efficient savings accounts.
Nearly $1 trillion in British savings accounts could open to crypto investment as the UK Financial Conduct Authority prepares to lift a ban on crypto exchange-traded notes.
Exchange-traded notes, or ETNs, are debt instruments that track an underlying asset’s price. They are listed and traded on exchanges, and in most respects function the same way as the more common and popular exchange-traded funds.
In January 2021, the FCA banned the sale, marketing, and distribution of derivatives and ETNs that reference unregulated crypto assets to retail investors.
That ban will be reversed…
