The Financial Conduct Authority (FCA) has reiterated its rules against selling cryptocurrency products such as exchange traded funds (ETFs) to retail investors.
The UK financial services regulator told Citywire earlier this week that such products remain “ill-suited” for retail investors, despite rising investor interest.
In doing so, the FCA is sticking to the line it first drew in March, when it confirmed it would not allow retail investors to trade in cryptoasset-backed Exchange Traded Notes (cETNs).
At the same time, the regulator approved the launch of cETNs for use by accredited professional investors.
“The FCA is collaborating with go...