London (Reuters) -Britain’s Financial Regulator is to Remove a Ban on Consures Buying Crypto Exchange -Traded Notes (ETNS), DITCHING Its Previous Postation of Wanting to KEEP THEM ONTING to KEEP THEM ON Investors.
The Financial Conduct Authority said on Friday that allowing retail investors to buy etns would support growth and competitiveness, in the latest sign that they shifting its app app approach to Crypto assed Government seeks to grow the economy and support a digital assets Industry.
Last year the fca had approved the launch of crypto etc.
“We want to rebalance our approach to risk and lifting the ban would allow people to make the choice on whither such a high-Risk investment is right for them given thei he Executive Director of Payments and Digital Assets at the FCA, said in a statement on Friday. The proposal will now go out for consultation.
Britain in April Published draft laws for bringing cryptocurrencies under compulsory regulation for the first time, aligning it with the united states’ Approach, Rather THAN THEAN THEAN THEAN THEN THEAN THEN THEAN THEAN THEAN THEAN THEAN THEAN THEAN THEAN STATES Rules tailored to the industry.
To be sold to individual consumers, the etns will need to be tradeed on an FCA -Proved Investment Exchange, The Regulator said.
A ban on retail investors trading cryptoasset derivatives would remain, the watchdog added.
(Reporting by Tommy Reggiori wilkes. Editing by Jane Merriman)
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