Catenaa, Friday, October 10, 2025- The UK Financial Conduct Authority has lifted its ban on crypto exchange-traded products (ETPs) for retail investors, but delays in prospectus approvals mean access to Bitcoin and Ethereum-linked products may not begin until mid-October.
The regulator began accepting filings on September 25, leaving little time for review before the intended launch.
FCA officials said each prospectus will undergo scrutiny and may require additional comments, with final approval also contingent on London Stock Exchange listings.
Five firms, including BlackRock and Standard Chartered, have received registrations under an accelerated review process that has cut approval times from 17 months to just over five.
Applications, however, have fallen from 46 to 26 in the past two years, with approvals declining from eight to three.
The FCA’s full crypto regulatory framework is expected in 2026, requiring platforms to collect detailed customer information and adhere to bank-like governance and anti-money laundering standards.
The UK and US recently created the Transatlantic Taskforce for Markets of the Future, chaired by HM Treasury and the US Treasury, to harmonize digital asset regulations across borders.
Meanwhile, the Bank of England is proposing strict ownership limits on stablecoins, drawing industry criticism for potentially stifling growth.
Governor Andrew Bailey emphasized that central bank access for widely used stablecoins could reshape the financial system, separating money holding from credit provision. The UK also faces a legal dispute over $6.7 billion in seized Bitcoin linked to Chinese fraud victims, with hearings expected to continue into 2027.
