UK FCA Backs Off Ban: Crypto ETNs Coming Back! 🎉

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UK FCA Backs Off Ban: Crypto ETNs Coming Back! 🎉

  • FCA finally loosening up a little. Maybe they’ll let retail investors play with crypto ETNs. 🤔
  • New rules say, “Only on FCA-approved exchanges.” So, no basement trades, folks.
  • But don’t get too excited! Promotion rules are still strict—no shiny objects allowed. 😒

Look, the UK’s Financial Conduct Authority (FCA) is thinking, “Maybe retail investors aren’t complete idiots.” So, they’ve proposed to lift the ban on crypto exchange-traded notes (cETNs). Yeah, people might actually be able to buy this stuff now—not just the big shot traders. It’s like saying, “Go ahead, put your money in crypto, but only if you’re smart enough to buy it on the right exchange.” 🤦‍♂️

FCA Wants Safer Crypto? Sure, Why Not.

Back in 2021, the FCA decided, “Crypto derivatives? Too risky for regular folks.” So, only the pros could dabble. Now, markets have grown, and they’re like, “Hmm, maybe we jumped the gun.” So, they’re proposing that retail investors can get in, but only on trusted exchanges. Basically, “You can gamble, but only with the house’s blessing.” 🧐

Nope, the promotion rules? Still in effect. The FCA wants you to be fully informed about the risks, which is code for “We don’t want any funny business.” Protect the little guy, right? Keep the sharks from convincing grandma to buy Dogecoin—again. 😂

David Geale, FCA’s digital finance guy, says, “Hey, people should know the risks.” Yeah, fine. But let’s be honest: the chances of losing everything? Pretty high. Just putting it out there. 🏦

This fits into their bigger crypto game plan. They’re also looking at stablecoins and other crypto stuff. Basically, they’re saying, “Sure, you can buy crypto, but don’t expect us to let you gamble with derivatives yet.” Typical bureaucratic dance. 💃

FCA Gets Lazy, Simplifies Fund Reports

While they’re at it, they’re trying to make life easier for financial firms. They want to cut down on paperwork—save money, cut red tape. Sounds great, right? Over 149 firms could save thousands of hours and bucks. Less hassle, more crypto? Maybe! 🤞

No word on when these changes will actually happen. The FCA will keep watching, tweaking as needed. Meanwhile, don’t forget the rules still protect you—mostly from yourself.

Bivu Das from Kraken UK says, “Hey, this is a big step forward.” Because, apparently, the UK wanted to be relevant in the crypto world, so they’re opening some doors. Thanks, FCA, for catching up. 🥱

Bottom line: More people and money might flood into crypto, but hey, beware of the sharks. Keep your eyes peeled or you’ll be singing a sad song. 🎵

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2025-06-06 22:30