UK Lifts Ban On Crypto ETNs As 'Market Has Evolved' [zero hedge]
IG GROUP HLDGS PLC S/ADR (IGGHY)
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Source: zero hedge
UK Lifts Ban On Crypto ETNs As 'Market Has Evolved' Authored by Brian Quarmby via CoinTelegraph.com, The UK government has finally lifted its ban on crypto exchange-traded notes, citing a maturation of the industry and a greater understanding of digital asset products. In an announcement on Wednesday, the Financial Conduct Authority (FCA) outlined that retail investors can now access crypto ETNs via FCA-approved exchanges based in the UK A crypto exchange-traded note is a debt product that allows an investor to gain exposure to a cryptocurrency without owning the underlying asset. These types of products are essentially traded similarly to any other security, with underlying crypto held securely by regulated custodians. “Since we restricted retail access to crypto ETNs, the market has evolved, and products have become more mainstream and better understood. In light of this, we’re providing consumers with more choice, while ensuring there are protections in place,” said David Geale, FC
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