The UK’s Financial Conduct Authority (FCA) has cautioned consumers about the high risks involved in investing in cryptocurrencies.
“Investing in cryptoassets, or investments and lending linked to them, generally involves taking very high risks with investors’ money,” the City watchdog said in a statement. “If consumers invest in these types of product, they should be prepared to lose all their money.”
The warning closely follows the regulator’s ban on selling crypto-derivates to consumers which came into effect January 6.
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