FCA chief executive Andrew Bailey has warned neither central banks nor the government are regulating bitcoin, meaning investors should be prepared to "lose all their money" if they invest in the cryptocurrency.
According to the BBC, Bailey likened investing in bitcoin to gambling and said the same level of risk is attached. Describing bitcoin as an unsecure investment, he told the BBC: "It is not a currency - it is actually not regulated in its bitcoin form. It is a very volatile commodity in terms of its pricing. "If you look at what has happened this year, I would caution people. We know relatively little about what informs the price of Bitcoin. "It is an odd commodity as well, as the supply is fixed," he continued. "If you want to invest in bitcoin be prepared to lose your money - that wo...
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