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Most young crypto traders don’t realize it’s not regulated, UK markets watchdog says

admin by admin
October 20, 2021
in Investing
0
Investors Eye Big Tech as Stock Market Wobbles

Cryptocurrencies are not regulated in the U.K., meaning people are not protected by consumer protection laws if their funds are lost for any reason — for example in a hack on an exchange.

But, according to research published by the FCA, most young people investing in crypto aren’t aware of this, with 69% incorrectly believing it is regulated.

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Three quarters of younger investors are driven by “competition” with friends and family when it comes to investing in a cryptocurrency or other high-risk products such as foreign exchange or crowdfunding, a survey from the financial services watchdog found.

read more………..

 

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