Bitcoin ETP - BTCE post UK ban on Crypto

[zamh]

Can you someone please clarify how FCA crypto ban from Jan 2021 would affect investors holding the Bitcoin ETP stock in their portfolio? Do they need to be liquidated ? Will be they be able buy or sell more after the ban date?

Thanks in advance

[PorterOldSlug]

Welcome to the forum, it is quite an active place so I recommend using the search function as there’s likely an answer somewhere

Will the Bitcoin ETP be impacted by the FCA's ban on crypto-derivatives in the UK?

Hi all, As lots of you probably know, the FCA has decided to ban the sale of crypto-derivatives and ETNs to UK retail investors from 2021. Will the Bitcoin ETP (BTCE) be impacted by this ban? And if so, does that mean we’ll be forced to sell this holding when the ban comes into place? I only discovered this ETP today and was excited, as I’d much rather pay the 2% annual management fee and hold this in an ISA rather than get slapped with 20% capital gains tax (or more) when selling real bitcoi…

[zamh]

Thank you, it’s useful but my query is not clarified still. Looking forward other responses.

[phildawson]

We are still awaiting an official response.

In theory if you are UK based then you should be able to hold them forever, but you can’t buy anymore after that 6 Jan date. If you’re UK and your status is pro then you should be able to still buy.

[Shiroh1ge]

Do you know if the ban also applies to people outside the UK?