The UK’s Financial Conduct Authority (FCA) has proposed lifting its ban on cryptocurrency exchange-traded notes (ETNs) for retail investors, allowing greater access to the crypto market. In a June 6 announcement, FCA executive director David Geale emphasized that this shift rebalances risk, enabling consumers to decide if investing in high-risk assets aligns with their financial goals. Legal expert Diego Ballon Ossio indicated that this move complements the UK’s ambition to be a leader in the crypto sector. The FCA is concurrently updating its regulatory framework for crypto, reflecting movements towards authorizing stablecoins and cryptocurrency custody. The proposal comes amid increasing cryptocurrency ownership in the UK, with recent discussions in the House of Commons addressing political donations made in crypto, suggesting a need for transparency in contributions.

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