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London – the UK intends to lift the ban on the key type of safety of the crystall debt, seeking to catch up with the US and other financial nodes as it is supposed to become a global center for digital assets.
On Friday, the financial behavior, the UK chief regulator for financial services, announced a proposal to lift its ban on crystaning with retail investors.
Notes traded on the exchanges are the type of loan tool that is associated with one or more specified assets-crew, in this case. Essentially, they allow investors to impact digital tokens through the use of regulated exchange.
Crypto ETN sales for retail investors were banned in the UK because the FCA included a ban in 2019 because of the concern of potential damage they caused by consumers.
However, on Friday, the FCA said he proposed to disable the ban on crypto -ethn “to support UK growth and competitiveness.” Restriction of the crypto -production will remain in place, adding the watchman.
“This consultation demonstrates our commitment to supporting the growth and competitiveness of the UK -Industry,” said David Gel, executive director of payments and digital assets at the FCA.
“We want to balance our approach to risk and lifting the ban, it would make people make a choice about whether such a high risk investment is suitable, given that they can lose all their money.”
“Melmi Milestone”
Clipt -Firms rapidly evaluated the development as a significant moment for the British UK, often perceived as a lag from the US, European Union and other world players when it comes to digital assets.
Funds selling crystals were available in the US, as the Securities and Exchange Commission approved changes in the rules to allow the creation of the first ETF related to bitcoin earlier.
In April, the UK government published Creation of legislation for crypto -sector In order to make the country “world leader in digital assets”. FCA separately works through Detailed Road Card Consultation and Discussion Documents For the purpose of implementing the regulatory regime of Krypta by 2026.
“So far, the UK has become most of the ETNs. We hope this step will improve consumer protection, and we will continue to do the case to lift the ban on retail investors from high-regulated derivative products,” said Jan Taylor, adviser to the Cryptouk Cryptou Corps Council.
UK General manager Kraken Biva das said the proposal to approve Krypto -et sales for consumers noted “the main milestone for the crypto -ecosystem of the UK”.
FCA “admits that the market has ripe and that outdated restrictions no longer fulfill their purpose,” the das added. “Such normative steps are crucial if the UK remains competitive in the race to lead digital assets.”
