News

Jinse Finance reported that digital asset infrastructure company BDACS announced on the 29th that it plans to issue the Korean won stablecoin "KRW1" on the new blockchain "Arc" launched by global fintech company Circle. To advance this project, BDACS has signed a memorandum of understanding with Circle and established a collaborative cooperation mechanism. In addition, BDACS completed the trademark registration for "KRW1" in December 2023.

Jinse Finance reported that the UK has ended its four-year ban on cryptocurrency exchange-traded notes (ETNs), providing retail investors with a compliant investment channel for Bitcoin and Ethereum for the first time since 2021. The Financial Conduct Authority (FCA) lifted the ban on retail clients on October 8, allowing the sale of cryptocurrency exchange-traded notes (cETNs), provided these products are included on the regulator’s “official list” and traded on recognized exchanges such as the London Stock Exchange. Relevant institutions must comply with the new regulatory regime for “restricted mass market investment products,” which includes mandatory risk warnings, a cooling-off period, and conducting investor suitability assessments. This decision marks a policy shift by the FCA—back in 2021, due to concerns over cryptocurrency volatility, valuation issues, and fraud risks, the agency had banned the offering of crypto-related derivatives and exchange-traded notes to retail investors. Since then, the regulator has gradually built a consumer protection framework, introduced a handbook of marketing conduct rules, and implemented the “consumer duty” standard across the industry.