Just one in 10 said that they had not conducted any research before buying crypto—but 20% of those surveyed cited "friends and family" as being their main reason for purchasing crypto.
In a note accompanying the research, FCA Director of Payments & Digital Assets Matthew Long said the study's findings highlighted the "need for clear regulation that helps people better understand the risks." The study also found that 26% of non-crypto users would be "more likely" to buy crypto if it were regulated.
The FCA pointed to the growth of crypto staking over the past year, adding that it "will consider the risks highlighted by the behaviours in this research," and how they can be reduced through its proposed regulations.
The findings "highlight the need for clear regulation that supports a safe, competitive, and sustainable crypto sector in the UK," Long said, adding that the FCA wants to "develop a sector that embraces innovation and is underpinned by market integrity and consumer trust."
Alongside its research, the FCA has shared its approach to regulating crypto, following consultations with industry organizations, crypto firms and banks. The FCA's crypto roadmap sets out a series of discussion papers, consultation papers and policy statements to be published over the next two years, covering topics including market abuse, stablecoins and crypto staking and lending.
Final policy statements are expected to be published in 2026, following which the regime will go live.
Crypto firms have broadly welcomed the news. In a statement shared with Decrypt, eToro UK Managing Director Dan Moczulski said that, "A comprehensive regulatory regime for crypto will provide the clarity and confidence needed to encourage further innovation and growth within the sector." Moczulski added that eToro hopes to "actively contribute" to the FCA’s upcoming consultations, "to help shape a sustainable and forward-thinking crypto ecosystem."
decrypt.co
