Companies Weigh in as UK Prepares to Reverse Crypto ETN Ban
The UK’s Financial Conduct Authority (FCA) is set to soon reverse a ban on crypto exchange-traded notes (ETNs) for retail investors enacted in 2019.
According to an Aug. 1 notice, the UK watchdog will lift a ban on retail access to crypto ETNs starting on Wednesday, provided they are traded on an “FCA-approved, UK-based investment exchange.” Unlike exchange-traded funds (ETFs), which are still banned in the UK for retail investors, ETNs represented debt securities tied to crypto and not backed by any underlying assets.
With the lifting of the ban looming, companies with operations in the UK have been weighing in on what the regulatory change could mean for retail investors. BlackRock, the world’s largest asset management company,…
