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UK's FCA Targets Young Crypto Investors, DeFi Hacks + More News

cryptonews.com
 16 days ago

Cover picture for the articleGet your daily, bite-sized digest of cryptoasset and blockchain-related news – investigating the stories flying under the radar of today’s crypto news. The UK Financial Conduct Authority (FCA) has created a GBP 11m (USD 15.3m) digital marketing campaign to warn its younger citizens about the risks associated with crypto investments, and that crypto investors "should be prepared to lose all their money, according to a speech by CEO Nikhil Rathi. He described "an explosion among younger people speculating on cryptocurrencies," with a 2020 research showing nearly 2.5m UK citizens buying crypto. These are commonly young people and those from an ethnic minority. "This is a category of consumer that we are not used to engaging with – 18 to 30-year-olds more likely to be drawn in by social media," the FCA said.

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