The CEO of the UK’s financial watchdog repeated a warning that people must be prepared to lose all of their funds if they invest in cryptocurrencies.
The CEO of the UK’s financial watchdog warned citizens they must be prepared to lose all of their funds if they invest in cryptocurrencies.
People must be “prepared to lose all their money” if they invest in crypto, Nikhil Rathi, CEO of the UK’s financial watchdog, said in its yearly review meeting.Financial Conduct Authority used the online public meeting on Wednesday to repeat the message it hafor several years, while also recapping the regulatory measures it has taken to protect investors.
Sarah Pritchard, the executive director for markets at the FCA, outlined three entry points for regulating crypto. Firstly, as a high risk investment, she reiterated that people do not understand the gravity of the risk of losing all their money to crypto.