UK markets watchdog: cryptoassets “has no intrinsic value

A collection of a Bitcoin (virtual currency) of tokens are shown in this figure, figure, December 8, 2017. REUTERS/Benoit Tessier/Image/File

LONDON (Reuters) – People should be cautious about putting money into non-regulated cryptoassets such as bitcoin has no “intrinsic value” and of little protection, the uk’s Financial Conduct Authority said on Wednesday.

In the case of FCA, was the publication of the final guidance to help companies understand their cryptoasset the activities covered by the existing rules and regulations.

“These companies will have a better understanding of whether or not they should be allowed to do and what they need to do in order to make sure that they are compatible,” the watchdog said in a statement.

Reporting by Huw Jones; Editing by Jon Boyle

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