The head of the UK financial watchdog said too many young people invest in crypto assets such as bitcoin instead of equities or bonds, flagging this as an example of the problems its new strategy is designed to tackle.
Nikhil Rathi, chief executive of the Financial Conduct Authority, said millions of people aged under 35 had made their first investment in cryptocurrencies, on which “there is a very high risk that you could lose all your money”.
The number of British people owning shares directly was “significantly lower” than in the US, where 38 per cent hold equities, or in Sweden, where it is more than 20…
