The UK's Financial Conduct Authority (FCA) recently announced a new policy allowing retail investors to participate in trading cryptocurrency ETNs (Exchange Traded Notes). However, the FCA also emphasized that the ban on cryptocurrency derivatives trading for retail clients remains in effect and will not change due to this opening.

The FCA stated that this opening of cryptocurrency ETN trading is intended to make the market more flexible while also providing investors with more options. However, they also remind that cryptocurrencies themselves are extremely volatile and carry high risks, and investors must fully understand the potential losses before participating. The regulator will continue to closely monitor market trends to ensure investor protection measures are in place.

It is worth noting that the FCA's ban on cryptocurrency derivatives (such as futures, options, etc.) remains strict. They believe that these products are too complicated for ordinary investors, and the risks are harder to control, which can lead to significant losses. Therefore, retail clients are still not allowed to participate in these transactions legally.

The FCA also mentioned that in the future, they will continuously assess the regulatory policies for high-risk investment products based on market changes and investor feedback. They encourage investors to remain cautious and not to follow the crowd blindly, especially in the case of extreme volatility in the cryptocurrency market.

Overall, the FCA's policy adjustment can be seen as a limited relaxation, with the core goal still being to balance market innovation and investor protection. For ordinary investors, understanding the rules and assessing risks is the first step in participating in cryptocurrency investments.