Great Britain: FCA research on cryptocurrency

In the latest research, FCA has published its opinion regarding the cryptocurrency behavioral patterns. It is true that the research is mainly targeted on high-profile investors who want to register their company in Great Britain. Still, it can be interesting to the general public as well as major cryptoasset traders.

Point of the research

The goal of the FCA research is to study certain consumer behavior patterns observed in the cryptocurrency market. Moreover, it is also tailor-made to notice potential risks taking place in cryptocurrency activities in the UK.  Additionally, it is important to remember that this research is a part of a bigger project of the FCA’s task force.

Key thoughts from the research

  • Despite the quick development of cryptocurrencies in the UK, people still own an extremely low part of them of about 4%.
  • Even though many people view cryptocurrencies as somewhat unsafe because of the instability and the absence of protection, it is not the same with the blockchain technology.
  • Owners of cryptocurrencies show a high level of technical competence. Their crypto activities in the UK are the best example of that.
  • It is most popular among cryptocurrency owners to use it rather for speculation than for payments or investment.

Another crucial detail is the fact that the FCA played its role in the imposition of the ban on certain derivatives’ sale to retail investors. The organization has not released the results of the consultation yet.

Conclusion

If you are planning on opening a cryptocurrency company in the UK, a decision to contact COREDO would be truly the best. The consultation with our experts will answer all your question about the cryptoassets’ regulation in Great Britain.