FCA warns over crypto assets pushed by stars such as Kim Kardashian West
US TV star posted paid advertisement for Ethereum Max cryptocurrency token on Instagram
The City watchdog hasissued a warning about the risks of buying crypto assets promoted by social media influencers such as Kim Kardashian West, and said people with little understanding of the risks were buying into digital currencies for fear of missing out.
In a warning that appeared to be targeting younger investors, the Financial Conduct Authority cautioned against buying into the “hype” of cryptocurrencies, particularly new tokens backed by celebrities that may end up being fake.
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