Oh, you thought the FCA was done with crypto? Wrong! They’re back with a vengeance… or maybe just a new set of rules that make zero sense. 🤷♀️💸
So, what’s the deal? The FCA, that group of people who probably still don’t know what a blockchain is, has decided to let regular investors buy crypto ETNs again. But only if they’re on “approved” platforms. Because nothing says “trust us” like a government agency that’s also a master of bureaucracy. 🤡
FCA Lifts 4-year Ban—With Rules
Starting October 8th, 2025 (because nothing says “trust us” like a date in the future), UK retail investors can finally buy cETNs again. But only on platforms approved by the FCA. Because nothing says “safe” like a government agency that’s also a master of bureaucracy. 🤷♀️
This is part of the FCA’s “wide plan” to update crypto rules while keeping investor protection… which, honestly, sounds like a fancy way of saying “we’re still confused but let’s try to act like we’re not.” 🎯
To protect you, these products will be regulated under “strict financial promotion rules.” Which probably means companies will have to stop making their products sound like a miracle cure for poverty. 🙃
Why the FCA Changed Its Mind
The FCA banned cETNs in 2021, calling them “too risky and hard to understand.” Now, they’re like, “Oh, the market grew! And now we get to play with it again!” 🎉
David Geale, the FCA’s digital finance boss, says the crypto market is “better understood.” Which is like saying, “I finally get why my niece loves TikTok.” 🙃
There Are Still Risks— No Insurance
Even with the new rules, if a crypto platform fails or a product crashes, you won’t get any help from the FSCS. So, basically, your money is gone, and you’re on your own. No safety net. Just a bunch of people who probably won’t help you. 😭
But don’t worry! The new Consumer Duty rule will make companies “act in your best interest.” Which, in FCA-speak, probably means “we’ll try to not actively sabotage you.” 🤞
Bigger Crypto Framework Is Taking Shape
This is just one part of the FCA’s “clear rulebook for crypto.” They’re also planning rules for stablecoins and other high-risk investments. Because nothing says “we’re serious” like creating more rules for things that are already a mess. 🧠
In short, while the door is reopening for crypto ETNs, the FCA is making sure it comes with strong warnings and no false promises. Which, honestly, is the same thing they said in 2021. 🔄
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2025-08-01 16:43