The Financial Conduct Authority (FCA) has reported a rise in crypto ownership in the UK, with 12% of adults now owning crypto, up from 10% previously. This translates to approximately 7 million individuals, an increase from 5 million in 2022. The average crypto value held has also risen from £1,595 to £1,842, with 19% of holders now possessing between £5,001 and £10,000. The study indicates that 10% of buyers did not research before purchasing, while 20% cited friends and family as their primary motivation. The FCA emphasizes the need for regulatory clarity to help consumers comprehend risks, noting that 26% of non-crypto users are more likely to buy if regulation is implemented. The FCA aims to foster a secure and trustworthy crypto sector through upcoming consultations and policy statements, with final regulations expected by 2026. Crypto firms have largely welcomed the news, with industry leaders expressing eagerness to participate in shaping regulatory frameworks.

Source 🔗