After banning retail access to crypto ETNs and derivatives in 2021, the FCA has reversed its approach in favor of ETN access for retail.
The United Kingdom’s Financial Conduct Authority (FCA) has lifted the ban on retail access to cryptocurrency exchange-traded notes (cETNs).
Companies in the UK will soon be able to offer retail consumers cETNs, with regulatory changes effective Oct. 8, according to an FCA announcement on Friday.
The new development in the UK’s regulatory approach on crypto comes after the FCA banned crypto ETNs in January 2021, citing the extreme volatility of crypto assets and a “lack of legitimate investment need” for retail consumers.
