“ Bitcoin: be prepared to lose all your money, FCA warns consumers
Regulator cautions public over risk of products promising high returns from cryptoassets
Consumers should be prepared to lose all their money if they invest in schemes promising high returns from digital currencies such as bitcoin, the City watchdog has warned.
The volatile nature of cryptoassets was highlighted again on Monday as bitcoin dropped 28% from Friday’s record high of $42,000, having doubled its value in less than a month. Despite the day’s decline to $30,200, bitcoin is still only at its lowest level since the first day of the new year.
As the popularity of crytocurrencies grows, the Financial Conduct Authority urged consumers to understand what they were investing in and the financial risks involved, given they were unlikely to be protected by UK schemes that help investors reclaim cash when companies go bust.“
Bitcoin: be prepared to lose all your money, FCA warns consumers | Business | The Guardian
Why is FCA allowing FCA regulated businesses to facilitate this 2nd (after Trump) fraud of the century?
They will say later that they don’t regulate tulipcoins but they fooking regulate banks that enable transactions
Regulator cautions public over risk of products promising high returns from cryptoassets
Consumers should be prepared to lose all their money if they invest in schemes promising high returns from digital currencies such as bitcoin, the City watchdog has warned.
The volatile nature of cryptoassets was highlighted again on Monday as bitcoin dropped 28% from Friday’s record high of $42,000, having doubled its value in less than a month. Despite the day’s decline to $30,200, bitcoin is still only at its lowest level since the first day of the new year.
As the popularity of crytocurrencies grows, the Financial Conduct Authority urged consumers to understand what they were investing in and the financial risks involved, given they were unlikely to be protected by UK schemes that help investors reclaim cash when companies go bust.“
Bitcoin: be prepared to lose all your money, FCA warns consumers | Business | The Guardian
Why is FCA allowing FCA regulated businesses to facilitate this 2nd (after Trump) fraud of the century?
They will say later that they don’t regulate tulipcoins but they fooking regulate banks that enable transactions
