The Financial Conduct Authority (FCA) has agreed to drop its ban on the sale of crypto exchange-traded notes (cETNs) to retail consumers, provided they are sold on an FCA-approved UK-based investment exchange subject to financial promotion rules. The cETNs, which are debt instruments offering price exposure to crypto-assets such as Bitcoin and Ether, will not be covered under the Financial Services Compensation Scheme or the Financial Ombudsman Service. The ban, imposed in January 2021, is set to expire on October 8, 2025.
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