Today in crypto, the UK Financial Conduct Authority is preparing to reverse a ban on crypto exchange-traded notes for retail investors. Coinbase One will become available to Samsung Galaxy users in the US through an expanded integration. Meanwhile, sources have flagged a vulnerability in the Unity gaming platform that could expose Android-based crypto wallets.

Companies weigh in as UK prepares to reverse crypto ETN ban

The UK’s Financial Conduct Authority (FCA) is set to soon reverse a ban on crypto exchange-traded notes (ETNs) for retail investors enacted in 2019.

According to an Aug. 1 notice, the UK watchdog will lift a ban on retail access to crypto ETNs starting on Wednesday, provided they are traded on an “FCA-approved, UK-based investment exchange.” Unlike exchange-traded funds (ETFs), which are still banned in the UK for retail investors, ETNs represented debt securities tied to crypto and not backed by any underlying assets.

With the lifting of the ban looming, companies with operations in the UK have been weighing in on what the regulatory change could mean for retail investors. BlackRock, the world’s largest asset management company, is reportedly looking into ways to offer its iShares Bitcoin exchange-traded product to prepare for retail trading on or after Oct. 8.

Bitwise CEO Hunter Horsley, whose company’s European operations are headquartered in London, said on X that he was “excited to be able to serve more investors in our home market in Europe at long last.”

“Until now, the UK has been an outlier on ETNs,” Ian Taylor, board adviser to the digital assets trade association CryptoUK, told Cointelegraph. “We hope this move will improve consumer protections and we will continue to make the case for lifting the ban on retail investors from accessing highly-regulated derivative products.”

According to an August notice from the FCA, any asset manager planning to offer trading of ETNs to UK retail investors had to have them listed on a “Recognised Investment Exchange.” The decision followed consultations with companies, trade associations, and consumer groups.

Samsung expands Coinbase integration with direct crypto purchases in Galaxy Wallet

Consumer electronics giant Samsung has expanded its partnership with cryptocurrency exchange Coinbase, allowing its Galaxy smartphone users to buy crypto directly through its native Samsung Wallet.

In the first phase, about 75 million Galaxy users in the United States will gain access to Coinbase One, a subscription service that offers zero trading fees, higher staking rewards and account protection for lost funds due to unauthorized access, Coinbase announced Friday.

“Together with Samsung, we’re pairing their global scale with Coinbase’s trusted platform to deliver the best value for people to access crypto — starting with more than 75 million Galaxy users across the U.S., and soon around the world,” said Shan Aggarwal, chief business officer at Coinbase.

The two companies aim to expand access to more Galaxy smartphone users worldwide, potentially bringing a significant influx of new mainstream investors to the crypto market, given the over one billion active global Galaxy users.

Samsung accounted for about 13% of the world’s 7.4 billion smartphone users as of September, according to BankMyCell.

Unity Android flaw could drain gamers’ crypto wallets

The Unity gaming platform is quietly rolling out a fix for a vulnerability that allows third-party code to run in Android-based mobile games, which can potentially target mobile crypto wallets, according to two sources who asked to remain anonymous. 

The vulnerability affects projects dating back to 2017, according to the sources, who added that the vulnerability primarily affects Android, but Windows, macOS and Linux systems are also affected to varying degrees.

Unity has begun distributing fixes and a standalone patching tool privately to selected partners, according to the sources, but public guidance isn’t expected until Monday or Tuesday of next week. 

A Google spokesperson told Cointelegraph they are aware of the vulnerability. “Unity is making a patch available to app developers to fix this issue, and developers should update their apps immediately,” the spokesperson said.