After a big rally Monday, the leading cryptocurrency received a new boost of momentum as Bitcoin prices rose to reach a new record high above $72,000, after the British Financial Regulatory Authority said it will allow exchanges to list exchange-traded products linked to cryptocurrencies for the first time.
The British Finance Department announced in a notice that it will not object to applications from recognized investment exchanges to create a UK-listed market segment for cryptocurrency-backed exchange-traded bonds, or ETNs.
On the lucky day, Bitcoin rose during trading on Monday, March 11, to levels of $71,000, which are record levels for the most famous cryptocurrency around the world.
Bitcoin recorded gains of 244% in the last 12 months.
Exchanges will need to ensure that they have adequate controls, so that trading is regulated and professional investors are provided with appropriate protection. They must meet all requirements of the UK listing regime, and make ongoing prospectuses and disclosures.
According to the London Stock Exchange, it will receive applications according to the information bulletin it published previously. She added: “The specific launch date will be announced in due course.”
To reduce the risk of delaying the listing process, the exchange encourages, in a listing information bulletin, potential issuers interested in listing cryptocurrency investment instruments for trading on the exchange, to begin discussions early. The information bulletin also indicated that cryptocurrency investment instruments will only be available to professional investors such as investment companies and credit institutions authorized to operate in the financial markets.
This announcement comes after the British Financial Conduct Authority (FCA) said that it will not object to proposals from recognized investment exchanges to create a listed market segment for traded investment instruments backed by cryptocurrencies, thus becoming the latest regulatory body to pave the way for digital asset trading products, according to Reuters. .
2024-03-11 18:12:30
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