The UK opens up crypto ETNs to retail investors, sparking a price war among issuers slashing fees to as low as 0.05%. The fee war follows the FCA’s lifting of the 2021 ban on retail access to crypto-linked funds, effective Oct. 8. Ian Taylor of CryptoUK welcomes the reversal as progress towards a more consumer-friendly approach.

Newly accessible ETNs include 21Shares’ Core Bitcoin and Ethereum Core Staking ETPs, Fidelity’s Physical Bitcoin ETP, and CoinShares’ Physical Staked Ethereum ETP. The FCA rule change aims to boost the UK’s global crypto adoption standing. The BoE considers softening its stance on stablecoin regulations to catch up to the US following the passage of the GENIUS Act.

BoE Governor Andrew Bailey moderates his stance on stablecoins, acknowledging their potential for innovation and role within the financial system. The UK’s regulatory changes aim to keep pace with global crypto adoption trends and ensure competitiveness in the digital asset space. Coinbase intensifies lobbying efforts in the UK as the country navigates evolving crypto regulations.

Read more at Cointelegraph: UK Crypto ETN Market Turns ‘Cut-Throat’ After Rule Change