The FCA’s Interim Executive Director of Strategy and Competition, Sheldon Mills, said:

“This FCA report reveals the increasing popularity of cryptoassets among the UK consumer population and underlines the importance of our work to gain a deeper understanding of this market and how people interact with these assets.

“Cryptoassets present risks and opportunities for consumers and we hope these insights will help inform the policy debate in the UK and internationally as the use of these assets continue to grow.”

Later this year the FCA will be clarifying its position on the banning of certain cryptoasset derivatives being sold to retail investors.

The FCA works with the UK government and Bank of England, as part of a UK Cryptoassets Taskforce.

The full FCA research note is available here.

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