UK lifts ban on crypto ETNs for retail investors as government makes digital asset innovation push
UK lifts ban on crypto ETNs for retail investors as government makes digital asset innovation push
The UK’s Financial Conduct Authority (FCA) has formally lifted a ban on the offering of cryptoasset exchange traded notes (cETNs) to retail investors – an important indication that the UK is responding to changing market dynamics in an effort to boost innovation and growth.
On October 8, the FCA’s new policy entered into force, allowing regulated UK investment exchanges to offer cETNs to retail investors for the first time. The FCA had prohibited the offering of cETNs to retail investors in 2021, arguing that cryptoasset-based financial products were not suitable for most retail investors given the price volatility of the underlying…
