FCA Reports Increase In UK Cryptocurrency Ownership

According to Foresight News, a recent report by Decrypt reveals that the Financial Conduct Authority (FCA) of the United Kingdom has published a new study indicating that 12% of UK adults currently own cryptocurrency, up from 10% previously. This percentage translates to approximately 7 million cryptocurrency holders in the UK, a significant increase from 5 million in 2022. The report highlights that the average value of individual cryptocurrency holdings has risen from £1,595 to £1,842. Additionally, the proportion of users holding between £5,001 and £10,000 in crypto assets has increased from 6% to 19%. Notably, only 10% of respondents admitted to not conducting any research before purchasing cryptocurrency, while 20% stated that their primary motivation for buying cryptocurrency was influenced by 'friends and family.' The FCA has also unveiled its cryptocurrency regulatory roadmap, which outlines plans to address issues such as market abuse, stablecoins, and crypto staking and lending over the next two years. This will be achieved through discussion papers, consultation documents, and policy statements. The final policy statement is expected to be released in 2026, after which the regulations will be formally implemented.