Crypto investors ‘should be prepared to lose all their money,’ top UK regulator warns

Crypto investors ‘should be prepared to lose all their money,’ top UK regulator warns

Fifty and twenty pounds bank notes and a bitcoin logo are seen in this photo illustration.Omar Marques | SOPA Images | LightRocket via Getty ImagesLONDON — Thinking of investing in a cryptocurrency? Be prepared to lose all your money.That's the message from the U.K.'s Financial Conduct Authority, which on Monday warned investments and lending products related to crypto come with "very high risks.""The FCA is aware that some firms are offering investments in cryptoassets, or lending or investments linked to cryptoassets, that promise high returns," the financial services regulator said."If consumers invest in these types of product, they should be prepared to lose all their money."The warning from the FCA comes amid wild volatility in the cryptocurrency market. Bitcoin and other virtual currencies plunged on Monday, wiping off some $170 billion from the total value of all cryptocurrencies combined.Bitcoin had surged to new records last week, climbing as high as $41,973. Investors increasingly view the digital asset as a hedge against inflation — similar to gold — in times of unprecedented stimulus from governments.But bitcoin's wild rise has led some commentators to warn it could be a market bubble likely to burst soon. The world's most-valuable cryptocurrency has skyrocketed over