European Regulatory Coordination: Following the UK, France also relaxes restrictions on retail investment in cryptocurrency ETNs
According to the latest reports from media such as Cryptopolitan, following the plans proposed by the UK's Financial Conduct Authority (FCA), the French Financial Markets Authority (AMF) has also officially announced adjustments to the rules, allowing the sale of specific cryptocurrency investment products to retail investors.
This is the first time since the ban implemented in October 2025 that the AMF has reopened compliant trading channels for cryptocurrency index exchange-traded notes (ETNs) for ordinary investors.
The adjustment of the new rules includes two core elements: firstly, allowing retail marketing and sales of compliant cryptocurrency index exchange-traded notes (ETNs);
Secondly, for products that meet specific qualification requirements in dimensions such as market capitalization, trading volume, and regulatory conditions of trading platforms, the previous mandatory warning label requirement has been removed.
This rule adjustment mainly covers mainstream cryptocurrencies such as Bitcoin and Ethereum, with the aim of lowering the entry barriers for compliant products and simplifying related investment processes.
Although France closely follows the UK's pace in regulating cryptocurrency investment products, industry insiders generally point out that retail access rules for cryptocurrencies in various European countries still show significant differences, which also hinders the unified development of the market.
However, it is fortunate that the market has quickly responded to the country's regulatory easing; for example, the large European bank Nordea has recently planned to offer cryptocurrency ETP products to its clients.
Furthermore, the French Financial Markets Authority (AMF) is expected to review the effects of this policy change in the first half of 2027. This also means that the relaxation of the rules is both a new starting point for market openness and a regulatory prudent practice that requires long-term observation and dynamic assessment.
In summary, the regulatory bodies of France and the UK have almost simultaneously relaxed restrictions on retail investment in cryptocurrency assets, clearly conveying that major European markets are systematically opening a more regulated and mainstream investment path for ordinary investors.
The core intention of this action is not merely to ease regulations but to gradually integrate and incorporate cryptocurrency assets into the existing European financial regulatory framework, allowing them to develop compliantly within controlled parameters.
