Bitcoin price tops $70,000 in fresh record high
Bitcoin reaches new record high of over $71,000 with UK regulator allowing crypto-backed securities trading.
- Bilawal Riaz
- 1 min read
Bitcoin has reached a new record high, trading at over $71,000 as the UK financial regulator allows the trading of cryptocurrency-backed securities. The Financial Conduct Authority stated it would not object to investment exchanges creating a market segment for cryptoasset-backed exchange traded notes (cETNs). However, they warned that cryptoassets are high risk and unregulated. Bitcoin has been boosted this year by US regulatory approvals of ETFs tracking its price and an upcoming “halving” event that could reduce supply and raise prices.
- Tags:
- UK
- US
- Financial Conduct Authority