🎉 #Gate Alpha 3rd Points Carnival & ES Launchpool# Joint Promotion Task is Now Live!
Total Prize Pool: 1,250 $ES
This campaign aims to promote the Eclipse ($ES) Launchpool and Alpha Phase 11: $ES Special Event.
📄 For details, please refer to:
Launchpool Announcement: https://www.gate.com/zh/announcements/article/46134
Alpha Phase 11 Announcement: https://www.gate.com/zh/announcements/article/46137
🧩 [Task Details]
Create content around the Launchpool and Alpha Phase 11 campaign and include a screenshot of your participation.
📸 [How to Participate]
1️⃣ Post with the hashtag #Gate Alpha 3rd
FCA proposes to lift the ban on cryptocurrency ETNs for retail investors
The UK's Financial Conduct Authority (FCA) has just proposed lifting the ban on offering exchange-traded note products (ETN) related to cryptocurrencies to retail investors. If approved, individual investors in the UK will be able to access cryptocurrency ETNs traded on an approved exchange.
The FCA asserts that the usual financial promotion regulations will apply, ensuring that users are provided with adequate information about risks and are not encouraged to invest through inappropriate incentives. Mr. David Geale, the executive director responsible for payments and digital finance at the FCA, stated that the lifting of the ban aims to rebalance the risk approach and create opportunities for the public to make their own decisions to invest in high-risk products.
The ban has been in effect since January 2021, when the FCA believed that retail investors had no legitimate demand for these products. However, after more than 4 years, the FCA has found that lifting the ban would promote growth and enhance the competitiveness of the UK's crypto industry. The ban on crypto derivatives for retail investors will still continue to be enforced.