The Financial Conduct Authority has shifted its position on cryptoasset exchange traded notes (cETNs), stating it “will not object” if one of the UK’s six recognised investment exchanges requests to create a listed market segment for the products.
According to this morning's (11 March) update, any exchange which opts to make these products available to professional investors must ensure sufficient controls are in place to allow orderly trading and proper protections, while the cETNs must meet all requirements of the UK listings regime. 'Watershed moment' for crypto as SEC approves 11 spot bitcoin ETFs However, while the FCA now believes exchanges and professional investors can assess whether cETNs meet their risk appetite thanks to "increased insight and data due to a longer period of trading history", the watchdog has maintain...
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