UK’s Financial Conduct Authority says crypto assets have no intrinsic value

UK’s Financial Conduct Authority says crypto assets have no intrinsic value

The United Kingdom’s Financial Conduct Authority has announced today that it does not believe crypto assets, such as bitcoin, have “intrinsic value”, essentially considering them without value. It said that consumers should be aware the market is risky and that the assets are unregulated meaning they’re not covered by the Financial Services Compensation Scheme which pays compensation when a financial service is unable to.