The British Financial Supervisory Authority has warned investors looking to benefit from the Bitcoin cryptocurrency boom, saying: Be prepared to lose everything.
According to Arabiyanet, the Financial Conduct Authority said in a statement today, Monday that investing in crypto commodities, or the investments and lending associated with them, generally involves high risk. Too much money for investors. And if individuals invest in these types of products, they should be prepared to lose all of their money. According to Bloomberg.
FCA's concerns include price volatility, the complexity of products offered, and the lack of consumer protection regulation around many products.
the price of Bitcoin, the largest cryptocurrency, has more than quadrupled in the past year, sparking memories of the 2017 mania that first made digital currencies a household name before its collapse Prices are the same speed.
Bitcoin's price fell by as much as 21% on Sunday and Monday to under $ 32,400. This is the biggest drop in two days since global markets were first hit by a pandemic last year, and it comes after a record high of around $ 42,000 on January 8th.
