A major trading platform in the United Kingdom (UK) has issued a strong warning to investors hoping for looser crypto regulations, insisting that cryptocurrencies should not be part of their investment portfolios.
On October 8, the United Kingdom lifted a long-standing ban on retail investors from accessing crypto-based Exchange-Traded Notes (ETNs).
ETNs are debt instruments whose value is linked to one or more specific assets.
The move, however, has prompted a warning from Hargreaves Lansdowne, the UK’s largest retail investment platform, which has advised retail investors to be cautious about exposure to crypto assets.
Previously, UK officials argued that the lifting of the ETN ban would support the growth and increase the competitiveness of the country’s crypto industry.
The move has also been welcomed by crypto companies, who see it as a major success for the sector in Britain.
The government also announced that investors can now hold crypto-based ETNs in a stock Individual Savings Account (ISA), an investment account that allows individuals to invest up to $26,753 per year tax-free.
