FCA Will Explain The Risks Of Cryptocurrencies

FCA will explain the risks of cryptocurrencies. The institution will spend 11 million pounds for this campaign.

The UK's financial markets regulator, the Financial Condut Authority (FCA), has announced that it will launch a campaign to draw attention to the risks of investing in cryptocurrencies. The agency will target consumers between the ages of 18 and 30 in the planned campaign and will spend 11 million pounds. The main purpose of the campaign will be to inform consumers about the risks of investing in cryptocurrencies. Nikhil Rathi, chairman of the FCA, said: "There is evidence that, as in the case of GameStop, more people view investing as entertainment. They are driven more by emotion than by logic, and are driven by social media influencers who are anonymous and have no accountability. As we have emphasized again “Those who invest in crypto assets should be prepared to lose all their money.” The UK regulator, FCA, has recently weighed in on measures for cryptocurrency platforms. The FCA reported last month that there are more than 100 crypto-asset companies operating informally in the country. The institution also issued warnings about exchanges such as Binance and Bybit.