The UK Financial Conduct Authority (FCA) has lifted its four-year ban on Bitcoin and Ethereum exchange-traded notes (ETNs), effective October 8. This move allows retail investors to access ETNs listed on recognized exchanges such as the London Stock Exchange, provided they adhere to strict listing, disclosure, and distribution regulations. ETNs are unsecured debt instruments that track cryptocurrency prices, offering exposure without direct ownership. The decision has been positively received by the crypto industry, with Bitcoin Policy UK CEO Susie Violet Ward describing it as a progressive step. Concurrently, the Bank of England is exploring exemptions for stablecoin holdings and their potential use in the Digital Securities Sandbox. This development comes as the UK faces competitive pressure from China's re-entry into the market through Hong Kong with a CNH-pegged stablecoin.