FCA opens retail access to crypto ETNs | Financial Conduct Authority
FCA opens retail access to crypto ETNs
Firms will soon be able to give retail consumers access to crypto exchange traded notes (cETNs), under changes announced by the FCA.
Crypto ETNs that retail consumers can access must be traded on an FCA-approved, UK-based investment exchange (a Recognised Investment Exchange or RIE). Financial promotion rules will apply so consumers get the right information and aren’t offered inappropriate incentives to invest.
David Geale, executive director of payments and digital finance at the FCA, said:
‘Since we restricted retail access to cETNs, the market has evolved, and products have become more mainstream and better understood. In light of this, we’re providing consumers with more choice,…
