Trading 212 Sold Crypto ETNs Before FCA Approval, Says FT

Crypto News Regulation

Written by Aaron S.,

Editor-In-Chief

Last Updated: January 27, 2026

Key Takeaways

The Financial Times reported that Trading 212 allowed UK users to trade crypto ETNs before getting approval from the FCA;
The company applied for authorization only after regulators contacted it, later gaining permission to sell debentures;
The FCA reminded firms that crypto ETNs require full approval and must follow strict consumer protection measures.

Stop overpaying - start transferring money with Ogvio. Sign up, invite friends & grab Rewards now! 🎁

Trading 212 Sold Crypto ETNs Before FCA Approval, Says FT

BITDEGREE IN YOUR SOCIAL FEED

Trading 212, one of Europe’s investment apps, allowed people in the UK to buy and sell crypto-linked exchange-traded notes (ETNs) before getting permission from the Financial Conduct Authority (FCA).

According to the Financial Times, Trading 212 did not have the required approval when it began offering the products. The company applied for permission only after regulators contacted it.

Records on the FCA’s financial services register later showed the firm had received authorization to sell debentures by January 26.

ICO vs IDO vs IEO: Which One's the Best? (Easily Explained)

Did you know?

Want to get smarter & wealthier with crypto?

Subscribe - We publish new crypto explainer videos every week!

Trading 212 told users it had “briefly paused” access to complex products, including crypto ETNs, to improve internal systems. That statement was later removed from its website.

When reopening retail access to crypto ETNs, the FCA said that companies must ensure their documents are reviewed and approved before launch.

It also warned that these are complex products and that firms should have the correct permissions to sell them.

Crypto ETNs fall under the FCA’s “restricted mass market investments” category. This means they come with specific consumer protection measures such as risk warnings, cooling-off periods, and checks to confirm that the product is suitable for each buyer.

Competitors like Interactive Investor, Fidelity, and Freetrade also began offering crypto ETNs in October 2025. The Financial Times noted that, unlike Trading 212, they already had the necessary licenses to sell debentures when the FCA lifted the previous ban.

The Financial Conduct Authority (FCA) in the United Kingdom recently began the last phase before making formal changes to rules about digital assets. What did the organization say? Read the full story.