2 weeks ago
Retail investors successful the U.K. volition soon beryllium capable to bargain crypto exchange-traded notes (cETNs) nether a caller regularisation from the Financial Conduct Authority (FCA) acceptable to instrumentality effect Oct. 8.
The FCA had antecedently barred retail access to crypto ETNs successful 2021, citing capitalist extortion concerns.
However, with the marketplace maturing and immoderate crypto concern products present amended understood, the regulator said it volition let access, provided the ETNs are listed connected recognized, FCA-approved U.K.-based exchanges.
Products indispensable travel fiscal promotion rules to forestall misleading advertizing and inappropriate incentives. The FCA’s Consumer Duty rules, which necessitate firms to debar causing foreseeable harm, volition apply. The FCA warned, however, that determination won’t beryllium sum nether the Financial Services Compensation Scheme for these products.
The determination comes aft retail investors gained entree to a plethora of cryptocurrency exchange-traded funds (ETFs) overseas successful the U.S. These funds, per SoSoValue data, person already accumulated $146.4 cardinal successful full nett assets.
English (US) 