The Strategist

UK lets professional investors trade cryptocurrency assets

03/12/2024 - 02:23

The UK exchanges are now able to trade assets related to cryptocurrencies thanks to permission from the Financial Conduct Authority (FCA).
The Financial Times reports that only experienced investors will be permitted to transact using exchange-traded notes, or ETNs, in the cryptocurrency space.

Notably, the watchdog issued a warning, stating that these instruments are "ill-suited for private investors because of the risks they carry."

"The FCA keeps reminding us that, in general, cryptoassets are unregulated and quite risky," added the regulator. "Those who invest in them should be prepared to lose their entire investment."