Most young crypto traders don’t realize it’s not regulated, UK markets watchdog says

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• 69% of under-40 traders investing in cryptocurrencies incorrectly believe they’re regulated, according to the U.K. Financial Conduct Authority.
  
• 68% of younger traders compared investing in cryptocurrencies and other high-risk products to gambling, the regulator said.
  
• The FCA previously warned a “new, younger, more diverse group of consumers” was getting involved in higher risk investments.
  

LONDON — Most cryptocurrency investors under the age of 40 don’t realize it isn’t a regulated product, according to the U.K. Financial Conduct Authority.

Cryptocurrencies are not regulated in the U.K., meaning people are not protected by consumer protection laws if their funds are lost for any reason — for example in a hack on an exchange.

But, according to research published by the FCA, most young people investing in crypto aren’t aware of this, with 69% incorrectly believing it is regulated.

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