BlockBeats News, August 6th, according to Cointelegraph, the UK financial regulatory authority has lifted the ban on exchange-traded notes (ETNs) for retail investors on cryptocurrency trading platforms, allowing individual investors to take risks at their own discretion. This move has received industry support and is seen as a step for the UK to align with the global crypto market and strengthen its position as a digital asset hub.
Last Friday, the Financial Conduct Authority (FCA) of the UK announced the lifting of the ban on retail investor trading of cETNs, with the regulatory changes taking effect on October 8th. The ban was implemented in January 2021 due to extreme market volatility and a "lack of legitimate investment need."
The withdrawal of the cETN ban reflects a shift in the regulatory attitude towards crypto assets. A senior FCA official stated in a release that this decision reflects the evolution of the market and the increased public understanding of crypto-related products. While the FCA has lifted the ban on cETNs, the regulatory authority clarified that crypto derivatives are still prohibited.
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