According to the UK Financial Conduct Authority’s (FCA) latest research on consumer attitudes and behaviours towards crypto, 12% of UK adults now own crypto, up from 10% in previous findings.
The research comes as the regulator has begun to share its plans for overseeing this area of finance. The FCA has also published an indicative roadmap of key dates for the development and introduction of the UK’s crypto regime.
According to the FCA’s research, awareness of crypto is on the rise, increasing from 91% in 2022 to 93% in 2024. The average value of crypto held by people has also increased from £1,595 to £1,842.
Respondents told the FCA that information from family and friends was the most common source of information for those who had never bought crypto. Only 1 in 10 people say they did not do any research before buying crypto.
Around a third of people said they believed they could raise a complaint with the FCA if something went wrong and were seeking recourse or financial protection. Currently, crypto remains largely unregulated in the UK and is considered by the FCA to be high-risk.
Matthew Long, director of payments and digital assets at the FCA, said: “Our research results highlight the need for clear regulation that supports a safe, competitive, and sustainable crypto sector in the UK. We want to develop a sector that embraces innovation and is underpinned by market integrity and consumer trust. We’re committed to working closely with the Government, international partners, industry and consumers to help us get the future rules right.”
