Trading212 found selling crypto ETNs without UK license

Major European online investment platform Trading212 offered cryptocurrency exchange-traded notes (ETNs) to retail investors without a license from the UK's Financial Conduct Authority (FCA), Cointelegraph reported. The products, which are bond-like investments tracking the price of assets like Bitcoin, were permitted for sale to retail investors by the FCA starting last October, provided firms obtained regulatory approval. Trading212 reportedly failed to secure this approval before offering the ETNs and has since begun the authorization process following the regulator's intervention.