The United Kingdom has ended a four-year ban on cryptocurrency exchange-traded notes (ETNs), providing retail investors with a compliant channel to invest in Bitcoin and Ethereum for the first time since 2021. The Financial Conduct Authority (FCA) lifted the ban on retail customers on October 8, allowing the sale of cryptocurrency exchange-traded notes (or cETNs), but only if the products are on the regulator's "official list" and traded on accredited exchanges such as the London Stock Exchange.
Agencies must comply with a new regulatory regime for "restricted mass market investment products", including mandatory risk warnings, cooling-off periods and investor suitability reviews. The decision marks the end of a policy shift for the Financial Conduct Authority, which in 2021 banned the provision of cryptocurrency-related derivatives and exchange-traded notes to retail investors because of concerns about cryptocurrency volatility, valuation issues and fraud risks. Since then, the regulator has gradually built a consumer protection framework, introduced a rulebook of marketing practices and introduced "consumer responsibility" standards across the industry.
The UK requires brokers to notify the Financial Conduct Authority before offering crypto ETNs to retail clients
2025-10-29 03:45:58
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