Crypto ownership doubles in UK before new rules kick in

Crypto ownership more than doubled in the UK in 2022, with almost 1 in 10 people surveyed by the FCA owning cryptocurrencies. The FCA announced new rules on advertising and risk warnings ahead of its clampdown on mis-selling in the crypto sector starting on October 8th.

June 8, 2023 . 7:52 AM

1 min read

Crypto ownership in the UK more than doubled in 2022, with almost one in 10 people surveyed by the FCA owning cryptocurrencies.
The FCA announced an October 8 start date for its clampdown on mis-selling in the crypto sector, with new rules on advertising and risk warnings.
36% of those surveyed had seen or heard crypto adverts, and 25% of those previously not involved in crypto became curious as a result.
The FCA's research found that 28% of those who do not use crypto would be more likely to buy it if the market and activity were regulated to a similar standard as traditional financial services.
The most common reason given for buying crypto was 'as a gamble'.