News Nearly 2 Million UK Residents Hold Crypto

Margo

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1.9 million people in the UK, 3.86% of its population, hold Bitcoin and other cryptocurrencies, according the latest research from the Financial Conduct Authority (FCA). This splash is a “statistically significant increase,” up from 3% in the last FCA consumer research report in 2019. Additionally the percentage of adults who have heard of cryptocurrencies is also increasing to 73% from 42% last year. According to the research, 75% of the 1.9 million crypto owners hold under £1,000 ($1,229) worth, and 83% of them buy coins via foreign crypto exchanges. As previously reported, the UK’s financial regulator had warned all local crypto businesses they must submit applications to acquire a crypto license till the end of June. Crypto companies in the United Kingdom will not be permitted to operate witout the license after January 10, 2021.

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