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 products that promise high returns from cryptoassets such as bitcoin, the City watchdog has warned.

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.

Continue reading…

Visit the Source

This post was originally published on this site

Return to this Topic

0
0
January 11, 2021