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Younger investors are treating crypto trading like a 'competition' with their friends, UK regulator says
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cnbc.comIn this article
LONDON — The vast majority of traders under 40 are investing in cryptocurrencies and other «high-risk» assets due to a sense of «competition» with friends and family, according to research published by the U.K. financial services watchdog on Wednesday.
Three quarters of younger investors are driven by competitiveness when placing their money in a cryptocurrency or other high-risk products such as foreign exchange or crowdfunding, a survey from the Financial Conduct Authority found.
Meanwhile, 68% of respondents compared investing in such assets to gambling, the FCA said. The regulator says findings were the result of surveys with 1,000 respondents aged 18-40 who invested in one or more high-risk investment products.
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