The UK’s Financial Conduct Authority (FCA) has proposed lifting its ban on cryptocurrency exchange-traded notes (ETNs) for retail investors. Announced on June 6, this move aims to give individual consumers access to crypto ETNs that are listed on FCA-recognized investment exchanges. David Geale, the FCA's executive director for payments and digital assets, emphasized the need to allow consumers the choice to engage in high-risk investments, albeit with the understanding that they could lose their entire investment. This shift is seen as part of the UK’s strategy to establish itself as a prominent player in the crypto sector. The FCA is concurrently working on a revised crypto regulatory framework that includes regulations for stablecoins and cryptocurrency custody. With growing cryptocurrency ownership in the UK, this decision reflects the evolving landscape of financial regulations in response to advancements in finance.

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