Cryptocurrency rises as UK financial regulator says it will allow trading of crypto-backed securities
Bitcoin has reached a new record price of more than $70,000, as the UK financial regulator said it would allow the trading of cryptocurrency-backed securities.
The cryptocurrency was trading at $71,588 on Monday morning, having last week overtaken its previous November 2021 high of nearly $69,000.
The latest price move came as the UK financial regulator said on Monday it would “not object” to investment exchanges creating a UK-listed market segment for cryptoasset-backed exchange traded notes [cETNs], a financial product that can be traded like a stock.
However, the Financial Conduct Authority said it would not permit the sale of the cETNs to retail investors, or members of the public.
