UK FCA plans to let consumers buy crypto ETNs, but keeps retail blocked from derivatives

The FCA intends to allow retail investors to purchase crypto exchange-traded notes (ETNs), debt instruments that track crypto asset performance. However, the ban on crypto derivatives for retail consumers will still be maintained.

Initially imposed in January 2021 after a 2020 announcement, the ban aimed to protect consumers from risks associated with market volatility and poor understanding of crypto assets. The FCA now seeks to balance risk with growth in the crypto sector.