Overview

• The FCA’s consultation proposes lifting the retail ban on crypto exchange-traded notes, provided they are listed on FCA-approved Recognised Investment Exchanges.
• The ban on retail access to cryptoasset derivatives will remain unchanged as the regulator continues to monitor high-risk products.
• David Geale said the proposal would rebalance risk and give consumers the choice to invest in high-risk assets if they understand the potential for total loss.
• The move aligns with government targets to establish the UK as a global hub for digital assets and roll out comprehensive crypto regulations by 2026.
• Firms and trade bodies, including Kraken’s UK general manager Bivu Das, hailed the plan as a major milestone for the nation’s crypto ecosystem.