The United Kingdom’s Financial Conduct Authority (FCA) has suggested the lifting of its ban on offering notes that the cryptocurrency (ETN) exchange exchanged with investors.
In a June 6 announcement shared with Cointelegraph, the FCA said the proposed change would allow individual buyers to access the Crypto ETNs, if they were listed in an investment exchange recognized by the FCA.
“We want to re-weigh our risk approach, and lifting the ban will allow people to make the choice if such a high risk investment is right for them, as they can lose all their money,” said David Geale, executive director of payments and digital assets at FCA.
Diego Ballon Ossio, British Law Firm’s partner Clifford Chance, said the move “has fully aligned with the UK’s ambition to position itself as a sophisticated jurisdiction in the crypto space,” added that it is “not only unlocking the exposure to crypto assets for investors but standing as the UK is open.
Related: The FCA has launched the BCP registered British Pound Stablecoin
The FCA is hardworking to work in crypto regulation
The FCA is currently working on a new repeat of the crypto regulation framework. In late May, the regulator asked to comment publicly to the proposed regulations for the preservation of stablecoins and cryptocurrency.
The ongoing effort also follows a recent UK Chancellor revelation of Exchequer Rachel Reeves of Plans for a “Comprehensive Regulation regime“It aims to make the country a leader in the crypto sector.
Recent reports also indicate the need for such steps, alleged that the United Kingdom is leading the world in increasing cryptocurrency ownership in its population in 2025, The release of economies including the United States.
Related: Zebec bought a firm Firm Gatenox Leading Mica, FCA Regulatory Push
Crypto political donations alarm uk lawmaker
During June 5 UK House of Commons DebateCabinet’s office minister Pat McFadden said “It’s really right that as the finance changes, so are the policies we have to ensure transparency and probity in elections.” Parliament member Sarah Olney raised concerns with political parties receiving crypto donations:
“Members noticed that some political parties began to receive cryptocurrency donations – far from me to suggest that this may be an attempt to avoid transparency requirements for donations.”
He has featured the need to ensure that “donations that do not come from an allowable or recognizable resource must be restored.” His comments followed a announcement on June 4 by Nigel Farage, head of the UK Party Reformation, recently announced The party accepts cryptocurrency contributions from the right donors.
“(A) S Today, we are the first political party in Britain to receive donations to Bitcoin and other cryptocurrencies,” Farage said. “We are behind you in America, but for now, people with Bitcoin can give us money if they deserve it.”
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