The UK has lifted the ban on retail investor crypto ETNs, which may indicate that it is striving to become a Crypto Assets hub.

BlockBeats news, on August 6, according to Cointelegraph, the UK’s financial regulatory authority has lifted the ban on crypto trading platform certificates of the retail investor (cETN), allowing individual investors to make choices at their own risk. This move is supported by the industry and is seen as a step towards aligning the UK with the global crypto market and strengthening its position as a digital asset hub. Last Friday, the Financial Conduct Authority (FCA) announced the cancellation of the ban on retail investors trading cETN, with the regulatory change taking effect on October 8. This ban was implemented in January 2021 due to extreme market fluctuations and a “lack of legitimate investment demand.” The lifting of the cETN ban reflects a shift in the attitude of regulators towards crypto assets. A senior FCA official stated in a statement that this decision represents the development of the market and an increase in public understanding of crypto-related products. Although the FCA has lifted the ban on cETN, regulators clarified that crypto derivation remains prohibited.