While spot bitcoin ETFs were authorized by the American regulator in mid-January, London is also considering opening up to these crypto-backed investment products.

The British regulatory authority, the FCA, opened the door to the listing of financial products backed by cryptocurrencies in the United Kingdom on Monday, according to a press release. The FCA “will not oppose requests from recognized exchanges to create a market segment listed in the United Kingdom for securities backed by cryptoassets”, explains this press release.

“These products would be available to professional investors, such as investment companies and credit institutions authorized or regulated to operate on the markets,” the press release said.

Protection

Exchanges “will need to continue to ensure that there are sufficient controls in place so that brokerage is orderly and that adequate protection is offered to professional investors”, continues the FCA.

The British market watchdog, however, warns that he continues to believe that products backed or derived from cryptocurrencies “are poorly suited to small investors given their dangers” and the ban on selling these products to individuals remains in place.

Bitcoin, the main cryptocurrency by capitalization, has seen its value soar to new historic records in recent days, driven by the authorization in the United States of the sale of a new type of investment product, an index fund ( ETF) which tracks the price of bitcoin. On Monday, the digital token hit yet another all-time high at over $71,000.

Source: https://www.bfmtv.com/crypto/bitcoin/apres-les-etats-unis-le-royaume-uni-ouvre-la-porte-aux-etf-bitcoin_AD-202403110392.html



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