FCA to Lift Ban on Offering Crypto ETNs to Retail
The FCA is proposing to lift the ban on offering crypto exchange traded notes (cETNs) to retail investors. Similar products are already available in other countries.
It would mean cETNs could be sold to individual consumers, rather than just professional investors, in the UK, if they’re traded on an FCA-approved investment exchange (a recognised investment exchange or RIE).
Financial promotion rules would apply, so consumers get information on the risks and would not be offered inappropriate incentives to invest, in the same way as if they bought cryptoassets directly.
David Geale, executive director of payments and digital finance at…
