UK allows retail access to crypto ETNs, signals push to become crypto hub
The Payments Association’s Riccardo Tordera told Cointelegraph that lifting the ETN ban allowed individual investors to make their own choices at their own risk.
The United Kingdom’s financial regulator lifted a ban on crypto exchange-traded notes (cETNs) for retail investors in a move welcomed by industry leaders as a step toward aligning the UK with global crypto markets as a digital asset hub.
On Friday, the UK’s Financial Conduct Authority (FCA) reversed the ban on retail access to cETNs, with regulatory changes taking effect from Oct. 8. The ban was enforced in January 2021, citing extreme volatility and “lack of legitimate investment need.”
Lifting the cETN ban reflects a change in the regulator’s approach to crypto assets. In a statement, an FCA executive said the decision reflected how the market had evolved and how crypto-related products are better understood.
