UK Retail Investment Platform Warns of Cryptocurrency Risks Amid Regulatory Changes

According to PANews, Hargreaves Lansdown, the largest retail investment platform in the UK, has issued a warning regarding the risks associated with cryptocurrency exposure for British investors. Despite a shift in regulatory stance, the platform emphasized that Bitcoin lacks intrinsic value. This week, Hargreaves Lansdown noted that the UK's Financial Conduct Authority (FCA) has lifted a four-year ban, allowing retail investors to hold regulated cryptocurrency products. However, the platform argues that cryptocurrencies do not possess the characteristics necessary for inclusion in investment portfolios aimed at growth or income, and should not be relied upon to achieve financial goals, stating that "Bitcoin is not an asset class." Nonetheless, Hargreaves Lansdown has not ruled out the possibility of offering cryptocurrency products on its platform. Starting early next year, select individuals will be allowed access to such products, contingent upon passing suitability tests. The platform plans to assess customer demand and risk considerations over the coming months.