The intrinsically private nature of cryptocurrency is putting millions of pounds of assets at risk when people die because their loved ones simply lose access to them, lawyers have warned.
Crypto assets, like Bitcoin, is a highly risky, speculative investment where you could lose all of your money – or potentially make millions. Yet despite the volatility, ownership of the alternative currency is on the rise.
According to a Financial Conduct Authority (FCA) survey in late 2024, about 12% of UK adults now own cryptocurrency, up from around 4% in 2021. That’s about seven million people. And with new FCA rules allowing investors to buy cryptocurrency exchange-traded notes (crypto ETNs) from October, interest is only set to increase.
