FCA opens path for professional-investor Bitcoin ETNs
The U.K. Financial Conduct Authority says it will not object to recognized exchanges creating professional-investor cryptoasset ETN segments.
On March 11, 2024, FCA opens path for professional-investor Bitcoin ETNs. The U.K. Financial Conduct Authority says it will not object to recognized exchanges creating professional-investor cryptoasset ETN segments.
The FCA's position allowed recognized investment exchanges to create a listed market segment for cryptoasset ETNs available to professional investors, while the retail prohibition remained in place.
The event marks a change in the legal environment around Bitcoin access, custody, mining, reporting or financial products, with consequences determined by the specific jurisdiction and stage of the action.