UK Financial Authorities to Allow Sales of Cryptocurrency ETNs to Retail Investors Starting October

The UK Financial Conduct Authority (FCA) announced that it will lift the ban on sales of cryptocurrency exchange traded notes (cETNs) to retail investors starting October 8, ending a prohibition that has been in place since January 2021. This move will allow regulated companies to provide access to individual consumers for the first time in nearly four years. Retail investors will be able to access cryptocurrency ETNs only through UK-based investment exchanges approved by the FCA. Financial promotion rules will apply, ensuring that consumers are protected from inappropriate solicitations and have access to adequate information.