FCA softens stance on sector by permitting bitcoin and ethereum-backed exchange traded notes
The UK’s financial regulator will allow some bitcoin-linked securities to be listed on the stock market, in a softening of its tough stance on digital assets as investors around the world snap up funds investing directly in cryptocurrencies. The Financial Conduct Authority said on Monday it would “not object” to the creation of bitcoin and ethereum-backed exchange traded notes for professional investors.
The ban — which also covered unleveraged securities — has drawn sharp criticism from members of the crypto industry, who argue that the UK cannot become a leading market for digital assets unless retail investors are given regulated and easy routes into popular tokens such as bitcoin.
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