Because of the increasing demand of crypto Investment & interest, the Financial Conduct Authority of the United Kingdom is ready to run a campaign to make people aware about the Crypto Investment risk.
Through an official announcement, the Financial Conduct Authority of the U.K revealed their plan to run a campaign ” Risk of Investment in Crypto” to inform all the people of their territories. They have a goal to target especially those citizens which are in the age range of 18-30 year. They are ready to spend $15.25 million for this marketing campaign against crypto Investment.
Nikhil Rathi, FCA’s chief executive, shared his point of view on this campaign by FCA. And said
“crypto investors should be prepared to lose their money given the associated risks”
So through his statement, Nikhil tried to explain that they will spread the previous warnings of FCA regarding crypto Investment & risk involved with it.
Nikhil Rathi also pointed out about the “GameStop frenzy” in which youngsters of the U.K are involved with lots of emotion & entertainment purposes. He stated
“less rationally and more emotionally, egged on by anonymous and unaccountable social media influencers.”
FCA’s new Business plan about which they commit to invest around $166 million will be both a data and financial regulatory body.
It should be noted, the U.K’s financial authorities are much aware about crypto. Because we have seen from time to time they warn about it and also raise issues against unauthorized crypto services, so that they can protect their citizens from any type of financial loss.