The British Financial Watch’s “Financial Conduct Authority” (FCA) has warned investors against a revolution in the cryptocurrency. “Those who are hoping to get rich out of such an investment also need to be prepared to lose everything,” it said.
The FCA issued a statement on Monday. There are a number of risks involved in investing in the currency or the associated debt. Nonetheless, those involved in such investments need to be prepared to face the crisis that is looming. The FCA has warned that those investors may lose money for all investments and loans.
The FCA is assessing the price volatility, the complexity of the proposed products and, above all, the absence of consumer protection rules. The price of the largest cryptocurrency, Bitcoin, has increased 16 times since last year. The FCA recalled 2017.
The Crypto Currency, also known as the master of investment suffered a sharp drop in prices. Last Sunday and Monday, the simultaneous decline of more than 21 percent has now dropped to below $ 32,400.