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Kardashian’s Instagram Crypto Plug Irks U.K. Finance Watchdog

  • FCA warns of risks of being lured into crypto by influencers
  • Investors should be prepared to lose their money, FCA says
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Consumers risk being lured into the “cryptobubble with delusions of quick riches” by high-profile influencers such as Kim Kardashian, the U.K.’s financial regulator warned in a speech Monday.

Charles Randell, Chair of the Financial Conduct Authority, called for regulators to be given greater powers to protect consumers and said if people buy speculative crypto tokens “you should be prepared to lose all your money.” He pointed to Kardashian’s recent promotion of a speculative digital token.