FCA Warns The Public On Crypto Assets Pushed By Influencers
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- FCA issued a warning on the risks of purchasing crypto assets promoted by social media influencers.
- It emphasized that people with little understanding of crypto might only be buying because of the “fear of missing out.”
- Reports say that FCA cautioned that the “hype” of crypto assets especially on new tokens might turn out “fake.”
The Financial Conduct Authority (FCA) issued a warning on crypto tokens supported by social media influencers like Kim Kardashian West. FCA stated that people who don’t understand the risks in buying digital assets “might only be buying because of fear of missing out.”
FCA Chair, Charles Randell, pointed this out from Kim Kardashian West’s recent Instagram stories. Here, she promoted a crypto token called “EthereumMax.”
