Britain’S FCA plans $ 15m campaign to warn young Britons of crypto risks

Worried about the growing enthusiasm for crypto investments, including for high-risk young Brits, the British Financial Conduct Authority (FCA) and 11 million pounds (15,2 million) were allocated to the largest digital marketing campaign to warn you of the risks.

The initiative was announced by Nihil Rati, the FCA’s Executive Director, during a webinar on Thursday, dedicated to the agency’s role in protecting consumer rights under rapidly changing economic conditions.

Citing a recent FCA study that found up to 2.3 million Brits had bought digital assets, Rati said there was “a boom among young people decrying speculation about cryptocurrencies or other risky investments.”

Acknowledging that people aged 18 to 30 are “a category of consumers we are not used to interacting with,” Rati decried a decency among crypto investors toward less rational and more emotional behavior.

More UK citizens rely on crypto investments: FCA survey
The FCA is also concerned that young people will be attracted by “anonymous and social media influencers,” as was the case with the GameStop game earlier in the year.

Rati said that” these risks are serious “and that cryptocurrency investors” should be prepared to lose all their money,”adding: “that is why we are creating an £ 11m digital marketing campaign to warn of the risks.”

Risk appetite of young crypto investors
That could be the FCA’s cause for concern. A previous audit review in March found that “younger, more diverse” investors in high-risk assets, including crypto, were “less aware of the risks.” Four in 10 respondents do not consider losing money as a risk, while 78 per cent say they “trust their instincts” when they know when to buy and sell.

Young investors buy cryptocurrency for excitement: British watchdog FCA
While the FCA has not revealed what the newly launched marketing campaign will target, today’s announcement,

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