UK Regulator Lifts Ban on Crypto ETNs, Opening New Possibilities for Retail Investors Amid Ongoing Restrictions on Derivatives
Main Idea
The UK's Financial Conduct Authority (FCA) has lifted its ban on crypto exchange-traded notes (cETNs), allowing retail investors to access these products starting October 8, 2023, aligning the UK with global crypto markets.
Key Points
1. The FCA reversed its ban on crypto ETNs, which had been in place since January 2021.
2. Retail investors can now access crypto ETNs, marking a shift in the FCA's regulatory approach.
3. Industry leaders, such as CryptoUK's Ian Taylor, welcomed the decision, seeing it as a boost for the UK's competitiveness in the crypto market.
4. Despite the lift on cETNs, restrictions on crypto derivatives remain in place.
5. The change is expected to enhance the UK's position in the global crypto market and provide more opportunities for retail investors.
Description
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