Core Viewpoint - Trading 212, a major European investment platform, has been selling cryptocurrency-related ETN products to UK retail investors for approximately three months without the necessary authorization from the Financial Conduct Authority (FCA) [1] Regulatory Compliance - Trading 212 only registered for the sale of cryptocurrency ETNs with the FCA on the previous Monday, after regulatory intervention prompted the submission of the application [1] - Legal experts indicate that this action constitutes a violation of FCA rules, which may lead to enforcement measures such as requiring corrective actions, product suspension, fines, profit recovery, or investor compensation [1]