The UK FCA has relaxed restrictions on retail investors accessing encryption ETN products, but the derivation ban remains in place.

On August 1, according to official news, the UK's Financial Conduct Authority (FCA) announced today that it will allow retail investors to trade encryption ETN products (encryption trading platform exchange-traded notes) on approved UK domestic recognized investment trading platforms (RIEs), but they must comply with financial promotion rules to ensure information transparency and avoid improper incentives. Although trading channels are open, such products are still not protected by the UK's Financial Services Compensation Scheme (FSCS), and related companies must also comply with the "Consumer Duty." The FCA's retail ban on encryption derivations remains in effect, and it will continue to monitor market dynamics of high-risk investment products to promote the overall regulatory framework for encryption assets.