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Bitcoin: be prepared to lose all your money, FCA warns consumers

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January 11, 2021 at 10:39AM

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Regulator cautions public over risk of products promising high returns from cryptoassets

Consumers should be prepared to “lose all their money” if they invest in products that promise high returns from cryptoassets such as bitcoin, the City watchdog has warned.

The Financial Conduct Authority urged consumers to understand what they were investing in and the financial risks involved, given they were unlikely to be protected by UK schemes that help investors reclaim cash when companies go bust.

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