How the FCA is lagging behind on crypto regulation

FCA estimates 5 million people in the UK hold cryptocurrency

clock • 3 min read

Laura Suter says widespread crypto 'dabbling' is a major concern and while the regulator is finally flexing its muscles many in the industry are not happy with the direction of travel...

We all know there was an investing boom during the pandemic, but it might surprise some that so much of it is driven by cryptocurrency purchasing, rather than more traditional investing. The latest Financial Conduct Authority (FCA) Financial Lives survey showed that there has been a near threefold rise in cryptocurrency ownership, which has gone from 2% of the population up to 5.8% between 2022 and 2020 - those crucial pandemic years. The figures show that 46% of new investors hold cryptoassets, an alarming figure. What's more, the FCA now estimates that 5 million people in the UK hol...

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