Retail investors in the United Kingdom can soon buy criticized notes with cryptography (CETNS) Under a new rule of financial behavior authority (FCA) established to enter into force on October 8.
The FCA had previously prohibited retail access to Crypt Etns in 2021, citing investor protection concerns.
However, with the maturation of the market and some cryptographic investment products now better understood, the regulator said it will allow access, provided that ETNs appear in recognized exchanges based in the United Kingdom approved by the FCA.
Products must follow financial promotion rules to avoid deceptive advertising and inappropriate incentives. The FCA consumer service rules will be applied, which require companies to avoid causing foreseeable damage. The FCA warned, however, that there will be no coverage under the financial services compensation scheme for these products.
The measure occurs after retail investors obtained access to a large number of funds quoted in cryptocurrency exchange (ETF) Abroad in the US. UU. These funds, according to Sosovvalue data, have already accumulated $ 146.4 billion in total net assets.
