The UK’s Financial Conduct Authority (FCA) has launched a TikTok and YouTube campaign to warn young people about the risks of investing in cryptocurrencies, per iNews.
“We want to create confident consumers. This campaign is about empowering younger investors, not inhibiting them,” executive director of the FCA, Sarah Pritchard reportedly said.
“We don’t believe that the actions of many of these new investors reflect what they describe as their tolerance to risk,” Pritchard added.
As part of the FCA’s initiative, the regulator surveyed young investors (between 18 and 40) who have invested in high-risk assets. More than three-quarters of respondents (76%) reportedly said their investment decisions were based on being competitive with friends or family.
“[60%] of those invested in high-risk assets said they want stable returns. We don’t want to limit choice, we are just asking investors to pause and consider. Are you prepared to lose all your money? If the ans
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