CandleFocus 7 Million UK Adults Now Own Crypto: Financial Conduct Authority
2024-11-26
Author: Content Editor
According to a study conducted by the UK regulator, the Financial Conduct Authority (FCA), 12% of UK adults now own cryptocurrency, up from 10% in previous findings. This represents approximately 7 million UK crypto holders, up from 5 million in 2022. The average value of crypto held has also increased from £1,595 to £1,842. The study revealed that more adults are holding a higher amount of crypto, with 19% holding between £5,001 and £10,000. Additionally, the research highlights the need for clear regulation to help people understand the risks associated with crypto. The FCA plans to publish discussion papers, consultation papers, and policy statements on cryptocurrency over the next two years, with final policy statements expected in 2026. Crypto firms, such as eToro, have welcomed the news and hope to contribute to the FCA's upcoming consultations to shape a sustainable crypto ecosystem.
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