Financial Times reports Trading 212 offered cryptocurrency-linked exchange-traded notes (ETNs) to UK retail clients without the specific FCA permission required after the 2025 return of crypto ETNs. The broker reportedly only applied for the extra permission after FCA supervisors contacted it, briefly paused access to complex instruments while upgrading systems, and by Monday the FCA register showed Trading 212 had been granted permission. The FCA requires prospectus approval and strict promotion/consumer protections; independent research cited says ETNs could grow the UK crypto market by up to 20%. Cointelegraph and the FCA had not responded to requests for comment at publication.

Trading 212 offered crypto ETNs to UK retail without the FCA permission required; it applied only after contact from FCA supervisors and briefly paused access while upgrading systems. The FCA’s strict prospectus, promotion and consumer-protection rules apply, and the register now shows permission was granted. These are concrete regulatory/compliance facts that create short-term reputational and compliance risk but registration reduces ongoing uncertainty.