Consumers think they can 'get rich quick' by putting cash into unregul...
LONDON - Consumers think they can “get rich quick” by putting cash into unregulated cryptoassets like Bitcoin and Ether they may not fully understand, Britain’s markets watchdog said on Thursday.
“Despite this lack of understanding, the cryptoasset owners interviewed were often looking for ways to ‘get rich quick’, citing friends, acquaintances and social media influencers as key motivations for buying cryptoassets,” the FCA said in a statement. The UK government wants to encourage innovation in finance, particularly the blockchain technology that underpins cryptoassets.
More than half of the cryptoasset owners surveyed had bought Bitcoin, while one in three chose Ether.
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