Over 2m hold cryptoassets but risky investment, warns FCA

An estimated 2.3 million adults now hold cryptoassets and awareness has increased but risks are still high for investors, warns the Financial Conduct Authority (FCA), as there is no protection if a vendor goes bust

The consumer research shows that as holding cryptoassets has become more common attitudes to them have changed. Although they are appear to be gaining more acceptance, a significant 38% of crypto users still regard them as a gamble (down from 47% last year), while increasing numbers see them as either a complement or alternative to mainstream investments. 

By contrast, the level of overall understanding of cryptocurrencies is declining, suggesting that some people who have heard of crypto may not fully understand, with only 71% correctly identified the definition of cryptocurrency from a list of statements.

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