tl;dr
The Financial Conduct Authority (FCA) in the UK has released new research showing that 12% of UK adults now own cryptocurrency, up from 10% in previous findings. This extrapolates to 7 million UK crypto holders, up from 5 million in 2022. The average value of crypto held has increased to £1,842. The...
The Financial Conduct Authority (FCA) in the UK has released new research showing that 12% of UK adults now own cryptocurrency, up from 10% in previous findings. This extrapolates to 7 million UK crypto holders, up from 5 million in 2022. The average value of crypto held has increased to £1,842. The study also revealed that 26% of non-crypto users would be "more likely" to buy crypto if it were regulated. The FCA has shared its approach to regulating crypto, with plans for a comprehensive regulatory regime, and crypto firms have broadly welcomed the news, expressing a desire for certainty and confidence in the regulatory framework. According to a nationally representative study of 2,199 UK adults, the average value of crypto held by people has increased over the same period, from £1,595 to £1,842. Among crypto holders, the number of adults holding more crypto has increased, too—with 19% now holding between £5,001 and £10,000 in crypto, versus 6% in the "previous wave." In a statement shared with Decrypt, a spokesperson for crypto trade association CryptoUK said that the findings were a "watershed moment for the industry," adding that "crypto is now mainstream in the UK." 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 behaviors in this research," and how they can be reduced through its proposed regulations. 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." A spokesperson for CryptoUK said that, "We look forward to the government’s plans to unveil its regulatory framework next year," and that its members "need certainty and confidence so they can invest further in the UK." They added that international investors are "also watching the government’s moves.”