UK regulator: Young investors taking on lots of risk

The M1 Finance website. The FCA said bitcoin and other cryptocurrencies were seducing new consumers who acknowledged enjoying the thrill of investing and not being able to absorb their losses. — Bloomberg

LONDON: A new generation of young consumers, often influenced by social networks and using trading apps, are plumping for high-risk investments, Britain’s financial markets regulator warned on March 23.

The Financial Conduct Authority said bitcoin and other cryptocurrencies were in particular seducing these new consumers who acknowledged enjoying the thrill of investing and not being able to absorb their losses.