12% of Brits now hold crypto
One-in-ten investors skip research, yet awareness grows alongside mounting institutional scrutiny
The Financial Conduct Authority (FCA) has released new research showing a steady increase in cryptocurrency adoption and awareness among UK adults, while simultaneously outlining its approach to future crypto regulation.
The latest findings reveal that 12% of UK adults now own cryptocurrency, a slight but significant increase from 10% in previous research. Crypto awareness has also climbed marginally from 91% to 93%, indicating growing familiarity with digital assets.
The average value of crypto holdings has jumped from £1,595 to £1,842 ($2,005 to $2,316), suggesting not only that more people are entering the market but also that existing investors are potentially increasing their investments.
The research uncovered some telling insights about crypto investor behavior. Surprisingly, only one in ten people admitted to not doing any research before purchasing crypto, with most relying on information from family and friends as their primary source of guidance.
However, the FCA strongly emphasizes the high-risk nature of cryptocurrency investments. Around a third of respondents mistakenly believed they could lodge a complaint with the FCA if something went wrong—a misconception the authority is keen to address.
Awareness and ownership of crypto is on the rise in the UK.
— Financial Conduct Authority (@TheFCA) November 26, 2024
Crypto is currently largely unregulated and high risk. If you buy crypto you should be prepared to lose all your money.
Read our research https://t.co/uUJpYfqVcz#CryptoAssets #CryptoUK #CryptoResearch pic.twitter.com/EpKH8uKQBD
Matthew Long, the FCA's director of payments and digital assets, highlighted the agency's commitment to developing a balanced regulatory framework. "We want to develop a sector that embraces innovation and is underpinned by market integrity and consumer trust," he stated.
The FCA has begun sharing its regulatory approach, publishing an indicative roadmap for crypto regulation development. This strategy involves a series of focused consultations designed to make policy development transparent and engaging.
In its first year of regulating crypto promotions, the FCA has taken significant protective measures, including issuing 1,702 alerts, taking down more than 900 scam websites, and removing more than 50 suspicious apps.
For new crypto investors, the message is clear: while opportunities exist, thorough research and a careful approach are crucial in this volatile market.
