UK's FCA Signals Crypto Regulation Shift as Investors Prepare
The Financial Conduct Authority (FCA) in the UK has not approved any specific institutions for enabling investments in cryptocurrencies and digital assets in 2024. Instead, it signals an adjustment of traditional financial regulations to better accommodate digital assets. Meanwhile, investment platforms and industry leaders express optimism about the potential of cryptocurrencies.
Stratiphy, an AI-powered investing toolkit, offers back-testing and investment automation, replicating professional investment approaches. It allows users to invest directly into crypto Exchange Traded Notes (ETNs) and includes crypto assets in their investment strategies. Daniel Gold, CEO and Founder of Stratiphy, anticipates high investor demand for digital assets and aims to provide access as soon as the FCA approves crypto ETNs.
Russell Barlow, CEO of 21Shares, sees exciting investment opportunities in the crypto market for UK investors. 21Shares, offering the largest suite of physically backed crypto ETPs globally with over 50 products and $11 billion in assets under management, has partnered with Stratiphy to provide UK investors access to cryptocurrencies and digital assets once FCA changes are introduced.
Aviva Insurance research reveals that a quarter of UK adults would consider investing in cryptocurrency for retirement planning. Investing in crypto can diversify portfolios and provide new opportunities, with Bitcoin up 88% and Ethereum up 73% in the last 12 months. The crypto Exchange Traded Products space has seen €26 billion traded on European exchanges in 2024, a 300% increase from the previous year.
While the FCA has not yet approved specific institutions for cryptocurrency investments, the UK's investment landscape is poised for growth in this area. Partnerships between platforms like Stratiphy and 21Shares aim to provide UK investors with access to digital assets once regulatory changes are implemented, capitalizing on the increasing interest and potential of cryptocurrencies.
Read also:
- US Energy Transition: Coal Plants Struggle, States Push Renewables
- Musk threatens Apple with litigation amidst increasing conflict surrounding Altman's OpenAI endeavor
- Transitioning to Electric Vehicles Places Heavy Demand on Power Grids
- E-mobility continues its progress after a decade since the scandal, staying on course
