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Research reveals increase in cryptoasset ownership

Research published by the Financial Conduct Authority (FCA) estimates that 2.3 million adults in the UK now hold cryptoassets, up from 1.9m last year, and that more people are enthusiastic about them.

More people have also heard of cryptoassets, with 78% of adults indicating they knew about them, up from 73% in a year.

Enthusiasm is growing as well with over half of crypto holders saying they have had a positive experience so far and are likely to buy more, while 11% say they regret having bought cryptoassets, down from 15% a year earlier.

Fewer users regard them as a gamble now too (38%, down from 47% last year), while increasing numbers see them as either a complement or alternative to mainstream investments.

Sheldon Mills, executive director of consumers and competition at the FCA, said:

"The research highlights increased interest in cryptoassets among UK customers. The market has continued to grow, and some investors have benefitted as prices have risen".

However, he gave a stark warning about how cryptocurrencies are unregulated, adding "if consumers invest in these types of products, they should be prepared to lose all their money".

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