FCA: "2.6 million Britons have ever bought cryptocurrencies"

According to a report by the UK Financial Conduct Authority (FCA), around 2.6 million Britons have everAcquired cryptocurrencies. The number of active traders in the country is growing.

As reported by the FCA, today there are about 1.9 million Britons own digital assets. At the same time, 75% of respondents store cryptocurrencies worth less than £1,000. The agency noted that last year the number of Britons who ever bought crypto assets was about 1.5 million people. This year this figure has already reached 2.6 million users.

The FCA also noted the high level of technicaluser awareness - most of them are aware of the risks associated with hacking and high volatility of cryptocurrencies. However, some users understand the principles of blockchain. However, 11% of respondents mistakenly believe that their assets are safe, since the services are focused on protecting the funds and interests of buyers.

According to the study, 83%Respondents purchase digital assets on foreign trading floors, and only 5% use domestic cryptocurrency exchanges. Most Britons view the purchase of crypto assets as a game of chance in which they can both increase their funds and lose them, fully aware of all the risks of the cryptocurrency market.

The regulator concluded that the wideThe distribution of cryptocurrency industry related announcements may influence users ’decision to purchase digital assets. So, 45% of respondents said that they often see advertisements for digital assets. 35% believe that advertising increases the likelihood of buying cryptocurrencies, while 16% said they bought digital assets under the influence of advertising.

The FCA also said it was engaging withthe country's government and the Bank of England to protect users from the risks associated with the cryptocurrency industry, without interfering with the development of the latest technologies.

Let us recall that last summer the regulator presented a new plan to combat economic crimes for 2019-2022, which should ensure compliance with AML/CFT rules by cryptocurrency companies.

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