The FCA has been warning about Bitcoin for years, but is the real risk not investing? - BitcoinEthereumNews.com
One of the few financial regulators that have been consistent in its warning about the dangers of the crypto space is UKs top financial watchdog, the Financial Conduct Authority (FCA). The agency has repeatedly warned citizens to be wary of crypto investments and sometimes tell those who invest in the space to be prepared to “lose all of their money.” However, a cursory look at FCA warnings over the years would show that the regulator has not been protecting investors from “losing their money”; instead, the warnings appear to be preventing them from “making money.” FCA Bitcoin warnings and how they affected consumers UK‘s FCA’s first warning about Bitcoin came in December 2017 when the former head of the agency Andrew Bailey said, “If you want to invest in Bitcoin, be prepared to lose all your money.” Then, the coin was trading for around $16,000, but the value has since appreciated and at one time traded for as high as $69,000 before dropping to its current market price of $39,176. This means that despite the intrinsic volatile nature of the coin, the FCA warning led those who heeded the call to lose a possible 137% gain on their investments if they had HODLed. The agency rehashed its