The UK's Financial Conduct Authority (FCA) has lifted its ban on crypto exchange-traded notes (cETNs) for retail investors, a decision that industry leaders view as a significant step towards establishing the UK as a global hub for digital assets. This regulatory change, effective from October 8, comes after the ban was initially imposed in January 2021 due to concerns over volatility and a perceived lack of investment necessity. The FCA's reversal indicates a shift in its stance on crypto assets, acknowledging the market's evolution and improved understanding of crypto products. Ian Taylor from CryptoUK expressed satisfaction with the decision, highlighting the need for a balanced approach to consumer risk. Riccardo Tordera from The Payments Association also welcomed the move, stating it enhances individual choice and competitiveness. However, the FCA clarified that while cETNs are now accessible, crypto derivatives remain banned, including futures and options, as they continue to assess high-risk investment strategies. Read more AI-generated news on: https://app.chaingpt.org/news