FCA Research Highlights 12% UK Crypto Ownership and Views on Regulation and Risk
Author: Content Editor
The Financial Conduct Authority (FCA) in the UK has released new research on consumer attitudes towards cryptocurrencies. The findings reveal that 12% of UK adults now own crypto, up from 10% in previous reports, and awareness of crypto has also increased to 93%. The average value of crypto held by individuals has risen to £1,842. The study shows that family and friends are the main sources of information for those who have not yet purchased crypto, and only 10% of participants said they did not conduct any research before buying. However, the FCA emphasizes that crypto remains largely unregulated in the UK and carries high risks, urging individuals to be prepared to lose their money. The FCA is working towards developing a regulatory framework for the crypto sector and has taken steps to address illegal cryptoasset promotions in the country. The regulator plans to publish a webpage outlining risks for payment service providers offering services to unregistered crypto companies. The FCA is also focused on educating consumers about the dangers of high-risk investments through campaigns like ScamSmart and InvestSmart.