More people view crypto assets as acceptable investment, says UK watchdog

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LONDON: More people see crypto assets as a mainstream investment rather than a 'gamble' as ownership of bitcoin and similar crypto currencies has ...

LONDON: More people see crypto assets as a mainstream investment rather than a"gamble" as ownership of bitcoin and similar crypto currencies has risen to 2.3 millon adults in Britain this year, the Financial Conduct Authority said on Thursday .

The number of UK adults owning crypto assets has risen quickly from 1.9 million in 2020, the FCA said, adding that the number of people who view them as a gamble fell to 38 per cent from 47 per cent over the same period. Enthusiasm is growing, with more than half of crypto holders saying they have had a positive experience so far and are likely to buy more, the FCA said.Sheldon Mills, the FCA's executive director for consumers and competition, said it was important for consumers to understand that the assets are largely unregulated.

 

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