Cryptocurrency

REGULATION

UK’s FCA bans crypto ETNs

UK’s FCA bans crypto ETNs

Get in now if you are in the UK and want to invest in derivatives or ETNs based on cryptocurrencies – the UK’s Financial Conduct Authority has banned them. The ban will come into effect on 6 January 2021 but the FCA warns that UK consumers should continue to be alert for crypto-derivative investment scams, writing: “As the sale of derivatives and ETNs that reference certain types of cryptoassets to retail consumers is now banned, any firm offering these services to retail consumers is likely to be a scam”.