Hargreaves Lansdown warns UK retail investors on crypto despite FCA U-turn

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Hargreaves Lansdown has warned UK buyers over publicity to cryptocurrencies, saying bitcoin “has no intrinsic worth” regardless of a regulatory U-turn on the merchandise.

The UK’s largest retail funding platform made its assertion this week, because the Monetary Conduct Authority lifted its four-year ban on permitting British retail buyers to carry regulated crypto merchandise.

“We don’t suppose cryptocurrency has traits that imply it must be included in portfolios for development or revenue and shouldn’t be relied upon to assist purchasers meet their monetary objectives,” the agency stated in a press release. It added that “bitcoin is just not an asset class”.

Nonetheless, it didn’t rule out providing crypto merchandise on its platform. Hargreaves Lansdown stated it recognised that some prospects “will want to speculate with cryptocurrency