“…regulator’s blunt warning on bitcoin and other cryptocurrencies”
January 11, 2021
“The warning was prompted by firms “offering investments in cryptoassets, or lending or investments linked to cryptoassets, that promise high returns,” the Financial Conduct Authority said.
The regulator said it had five concerns: Consumer protection, price volatility, product complexity, charges and fees, and marketing materials. “There is no guarantee that cryptoassets can be converted back into cash. Converting a cryptoasset back to cash depends on demand and supply existing in the market,” the regulator said…”
Of course people connected to banking and finance will say something like this. They are in competition with cryptocurrency. They could be correct but keep in mind they have personal interest at stake as well.
Just know cryptocurrency is new and it’s risky. If you’re willing to take the risk then go for it.