Trading 212 sold crypto ETNs without FCA authorization: Report

Buying and selling 212, certainly one of Europe’s largest on-line funding platforms, allowed UK retail prospects to commerce cryptocurrency-linked exchange-traded notes (ETNs) with out having the required permission from the nation’s monetary regulator, in response to the Monetary Instances.

Crypto ETNs returned to the UK retail market in October 2025 after the Monetary Conduct Authority (FCA) reversed a ban imposed in 2021. The merchandise, which observe the worth of digital property similar to Bitcoin (BTC), are structured as debentures and require particular regulatory approval to be bought to on a regular basis buyers.

Nonetheless, Buying and selling 212 provided crypto ETNs to retail purchasers with out the required authorization till Monday, the Monetary Instances reported, citing the corporate’s entry on the FCA’s monetary providers register. The corporate reportedly utilized for the extra permission final week, after being contacted by supervisors on the regulator, an individual aware of the matter informed the FT.

In a web site put up that has since been eliminated, Buying and selling 212 stated earlier this month that it had “briefly paused” entry to complicated devices, together with crypto ETNs, to improve inner techniques. By Monday, the FCA register confirmed Buying and selling 212 had been granted permission to promote debentures, per the FT.

Associated: UK banks block or delay 40% of crypto change transfers

FCA units circumstances for retail entry to crypto ETNs

After lifting its ban on retail entry to crypto ETNs, the FCA famous that prospectuses should be reviewed and authorized earlier than launch. “Crypto ETNs are complicated merchandise, and companies ought to guarantee they’ve the proper permissions to supply them to customers,” the regulator stated on the time.

Categorised as restricted mass market investments, crypto ETNs are topic to strict promotion and shopper safety guidelines, together with danger warnings, cooling-off intervals and suitability checks, per the FCA.

In the meantime, Buying and selling 212 rival platforms, together with Interactive Investor, Constancy and Freetrade, have provided crypto ETNs since October, however held the mandatory approvals to promote debentures when the ban was lifted, in response to the FT.

Cointelegraph reached out to the FCA and Buying and selling 212 for remark, however had not obtained a response by publication.

Associated: UK mulls beneath‑16 social media ban amid rising on-line ID push

Crypto ETNs to spice up UK crypto market by 20%

In an October 2025 analysis report, buying and selling platform IG stated the UK crypto market may broaden by as a lot as 20% following the launch of crypto ETNs.

The IG report primarily based this prediction by itself analysis that discovered “30% of UK adults would take into account investing in crypto by way of ETNs,” with the primary attraction being the “perceived security and regulatory oversight” provided by these merchandise.