UK lifts ban on crypto exchange-traded notes as ‘market has evolved’
The UK has lifted its four-year ban on crypto exchange-traded notes, with analysts predicting the move could grow the UK crypto market by 20%.
The UK government has finally lifted its ban on crypto exchange-traded notes, citing a maturation of the industry and a greater understanding of digital asset products.
In an announcement on Wednesday, the Financial Conduct Authority (FCA) outlined that retail investors can now access crypto ETNs via FCA-approved exchanges based in the UK
A crypto exchange-traded note is a debt product that allows an investor to gain exposure to a cryptocurrency without owning the underlying asset. These types of products are essentially traded similarly to any other security, with underlying crypto held securely by regulated custodians.