The UK FCA will hold a campaign for novice cryptocurrency investors
The regulator has launched a project on TikTok and on YouTube, worth £11 million ($15,25 million)
20.10.2021 - 13:30
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What's new? The UK Financial Control Authority (FCA) has launched a campaign on TikTok and YouTube to warn young people about the risks of investing in cryptocurrencies, iNews reports.
What is the regulator's opinion? According to FCA executive director Sarah Pritchard, the advertisement that targets UK residents aged 18 to 30, will inform them about the risks related to buying cryptocurrencies:
“We want to create confident consumers. This campaign is about empowering younger investors, not inhibiting them. We don’t believe that the actions of many of these new investors reflect what they describe as their tolerance to risk.”
What was the reason for launching the campaign? As part of the initiative, the regulator interviewed young investors (aged 18 to 40 years) who had invested in high-risk assets.
“Sixty per cent of those invested in high-risk assets said they want stable returns. We don’t want to limit choice, we are just asking investors to pause and consider. Are you prepared to lose all your money? If the answer is yes, then fine.” commented Pritchard.
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