Retail investors in the UK will soon be able to buy crypto exchange protected notes (Cetns) Under a new rule from Financial Conduct Authority (FCA) set to take effect on October 8.
FCA had previously prevented retail access to crypto -ethns in 2021 with reference to concerns about investor protection.
But with the market maturation and some cryptoin-investing products now understood, the regulator said it will provide access, provided the ETNs are listed on recognized, FCA-approved UK-based exchanges.
Products must follow financial promotion rules to prevent misleading advertising and inappropriate incentives. FCA’s rules for consumer deductions that require companies to avoid causing clear damage will apply. However, FCA warned that there will be no coverage under the compensation scheme for financial services for these products.
The move comes after retail investors gained access to an abundance of cryptocurrency-exchange-traded funds (ETFS) Abroad in the United States, these funds per Sosovalue -Data already accumulated $ 146.4 billion in total net assets.
