Big Change in UK Crypto Regulation – Retail Access to Bitcoin Products Coming Soon?

Key Points

1. The FCA banned retail access to cETNs in 2020 but is now considering reversing this decision, following the US approval of spot Bitcoin ETFs.

2. CryptoUK and industry leaders support the move but argue that crypto ETFs should also be allowed, as they are safer and more accessible.

3. Firms like 21Shares and Coinbase UK warn that limiting access could push investors toward unregulated offshore platforms.

4. The UK risks falling behind countries like Germany and Switzerland, where retail access to crypto ETFs is already permitted.

5. The FCA is reviewing the proposal, with final rules expected after summer, including decisions on expanding beyond Bitcoin and Ethereum and allowing spot crypto ETFs.