UK FCA will spend £11M to warn people about investing in crypto

UK FCA will spend £11M to warn people about investing in crypto

The United Kingdom’s Financial Conduct Authority (FCA) has created an 11 million pounds sterling ($15.2 million) digital marketing campaign to warn citizens about the risks associated with crypto investments.

Nikhil Rathi, chief executive of the FCA, made this known in a draft speech for the agency’s webinar titled “Our Role and Business Plan” delivered on Thursday.

Detailing the FCA’s decision to create the campaign fund, Rathi stated that the U.K. regulator is concerned about the increasing adoption of crypto investment among the younger demographic.

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According to the Rathi, “more people are seeing investment as entertainment” and that such irrational behavior may lead to significant losses on their part:

“This is a category of consumer that we are not used to engaging with 18 to 30-year-olds more likely to be drawn in by social media. That’s why we are creating an £11m digital marketing campaign to warn them of the risks.”

According to Rathi, the risks involved in crypto investments are “stark” with the FCA

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