The FCA said lifting the ban demonstrated its ‘commitment to supporting the… competitiveness of the UK’s crypto industry’.

The Financial Conduct Authority is poised to lift its ban on offering a type of crypto tracker to retail investors even though it could mean they “lose all their money”, in the latest sign of loosening financial red tape in a bid to help kickstart growth.

The City watchdog has proposed allowing investment platforms to offer their customers crypto exchange traded notes (cETNs), which until now has now been prohibited to professional investors.

cETNs can be traded somewhat like stocks and shares – working by tracking the performance of popular crypto assets like ethereum, ripple and bitcoin – but investors never actually own the asset.

The FCA first granted access to

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