The number of UK adults who own cryptocurrency has risen to 12%, new research published by the Financial Conduct Authority (FCA) has shown, up from 10% in previous findings.

According to the regulator, the average value of crypto held by people has increased from £1,595 in 2022 to £1,842 in 2024.

Respondents told the FCA that information from family and friends was the most common source of information for those who had never bought crypto, while only one in 10 people said they did not do any research before buying crypto.

Currently, crypto remains largely unregulated in the UK and a high-risk asset to invest in. The FCA said its research comes as it has started to share an approach towards regulating the crypto market.

The FCA has published an indicative roadmap of key dates for the development and introduction of the UK’s crypto regime, which sets out a series of focused consultations.

Director of payments and digital assets at the FCA, Matthew Long, said: “Our research results highlight the need for clear regulation that supports a safe, competitive, and sustainable crypto sector in the UK. We want to develop a sector that embraces innovation and is underpinned by market integrity and consumer trust.

“We’re committed to working closely with the Government, international partners, industry and consumers to help us get the future rules right.”

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