Share this article
BTC
$83,092.34
-
1.27%ETH
$1,788.07
-
1.62%USDT
$0.9999
+
0.03%XRP
$2.1315
-
0.58%BNB
$591.61
-
1.19%SOL
$119.06
-
3.35%USDC
$1.0003
+
0.03%DOGE
$0.1678
-
2.01%ADA
$0.6488
-
2.19%TRX
$0.2377
-
0.54%LEO
$9.0833
-
4.74%LINK
$12.66
-
2.51%TON
$3.2666
-
3.69%XLM
$0.2510
-
3.64%AVAX
$17.84
-
2.24%SHIB
$0.0₄1231
+
0.14%SUI
$2.2049
-
3.38%HBAR
$0.1613
-
2.46%LTC
$81.93
-
3.09%OM
$6.2555
-
0.70%Sign Up
- Back to menuPrices
- Back to menuResearch
- Back to menu
- Back to menu
- Back to menu
- Back to menuResearch
UK Regulator Finds 2.3M Adults Now Hold Crypto
However, overall understanding of crypto is in decline, the FCA survey revealed.
U.K. regulator the Financial Conduct Authority estimates 2.3 million adults now hold cryptoassets, up from 1.9 million last year.
STORY CONTINUES BELOW
As well as ownership of crypto, awareness has also grown, the FCA’s consumer research shows. Some 78% of adults have now heard of cryptoassets – the regulator’s preferred term – up from 73%.
In terms of the reputation, 38% of crypto users see it as a gamble, down from 47% last year, while increasing numbers see the assets as either a complement or an alternative to mainstream investments, the FCA said.
However, the overall level of understanding is declining. According to the FCA’s sample of 2,568 online respondents, only 71% correctly identified the definition of cryptocurrency from a list of statements.
“The research highlights increased interest in cryptoassets among U.K. customers,” FCA Executive Director Sheldon Mills said in a statement. “If consumers invest in these types of products, they should be prepared to lose all their money.”
Ian Allison
Ian Allison is a senior reporter at CoinDesk, focused on institutional and enterprise adoption of cryptocurrency and blockchain technology. Prior to that, he covered fintech for the International Business Times in London and Newsweek online. He won the State Street Data and Innovation journalist of the year award in 2017, and was runner up the following year. He also earned CoinDesk an honourable mention in the 2020 SABEW Best in Business awards. His November 2022 FTX scoop, which brought down the exchange and its boss Sam Bankman-Fried, won a Polk award, Loeb award and New York Press Club award. Ian graduated from the University of Edinburgh. He holds ETH.
