Investment in crypto assets should be capped, with consumers warned that they could lose all their money, the U.K. Financial Conduct Authority said in a policy document published Monday.
There will be a ban on offering bonuses to clients who refer friends, the financial-services regulator said as it prepares for new laws that will extend its powers to cover digital assets including cryptocurrencies.
In April, then-Finance Minister Rishi Sunak said he wanted to make the country a crypto asset hub. But the recent market crash, which saw a fall in the price of bitcoin (BTC) and the collapse of assets such as the terraUSD (UST) algorithmic stablecoin and hedge fund Three Arrows Capital, has made the regulator only more determined to act against what it sees as unduly risky behavior.
“We want people to be able to invest with confidence, understand the risks involved and get the investments that are right for them which reflect their appetite for risk,” Sarah Pritchard, the FCA’s...
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INN caught up with cryptocurrency investment expert Dan Hoover to review the current landscape and where the market may be heading. The cryptocurrency investment marketplace has gone through severa...