Catenaa, Friday, November 29, 2024-A report by the UK’s Financial Conduct Authority (FCA) revealed that 12% of UK adults, or approximately 7 million people, now own cryptocurrency, up from 10% in 2022.
The average value of crypto holdings rose to £1,842, with a growing percentage of investors holding assets worth £5,001 to £10,000.
The study can be found here.
The findings highlight a “watershed moment,” with crypto becoming mainstream in the UK, according to industry group CryptoUK.
The FCA emphasized the importance of clear regulations to address risks and support market integrity. Notably, 26% of non-crypto users indicated they would be more inclined to invest if regulations were in place.
The regulator also noted the rise in crypto staking and outlined its roadmap for establishing comprehensive rules by 2026. Industry leaders, including eToro UK, welcomed the plans, citing the need for regulatory clarity to spur innovation and growth in the sector.
The FCA’s ongoing consultations aim to foster a safe, competitive, and transparent crypto market while building consumer trust.
