Bitcoin prices rebounded on Monday to hit a record high of over $71,000 after Britain’s financial watchdog announced it would allow financial institutions to apply for exchange-traded products linked to cryptocurrencies for the first time. did.
The Financial Conduct Authority said in a notice on Monday that it would not oppose a request from a recognized investment exchange to create a UK listed market segment for exchange-traded notes (ETNs) backed by cryptocurrencies.
Exchanges need to ensure that sufficient controls are in place to ensure orderly trading and provide appropriate protection to professional investors. They must meet all the requirements of the UK listing regime, prospectus publication and continuous disclosure.
Bitcoin prices rose more than 3% to $71,726.49 around 4:30 a.m. ET, hitting a new all-time high. Ether rose nearly 2% to $4,014.90.
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