The U.K. Could Ban Memes Promoting Cryptocurrency. Will the U.S. Follow Suit? How the U.K. is going after crypto memes The U.K.'s Financial Conduct Authority (FCA) recently announced that a revamp of its social media regulations is coming. The agency says the goal is to combat illegal and non-compliant financial promotions, and it honed in on cryptocurrency memes in its recent guidance. The regulator said in a recent statement that crypto memes that have been circulated and shared online are subject to the FCA's rules. The firm gave an example of a seemingly innocuous meme that showed how easy it is to invest in crypto and said that these posts are subject to the FCA's rules on promoting investments. Specifically, the FCA wants online financial influencers, sometimes called "finfluencers," to mention the risks of crypto investing and disclose that they're receiving compensation for the promotion.
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Are NFTs Poised for a Comeback in 2024? NFT investing is still extremely risky NFTs may be entering a new phase, but NFTs and cryptocurrencies are still high-risk investments. The market is in its infancy, and the technology and legal environments are still evolving. Bear in mind that many NFT investors have already lost money. Some NFTs might go to the moon, but many others could collapse completely. Making consistent lower-risk investments that generate a safer rate of return can be a better way to build wealth over time. For example, looking back over the past 30 years, the S&P 500 has delivered a compound average annual growth rate of about 10%. The S&P 500 tracks the top 500 companies in the U.S. and is a common benchmark for stock market investments.
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Which Generation Is Most Likely to Invest in Crypto? The generation most likely to invest in crypto Millennials are the generation most likely to invest in crypto, and it's not a close race. Here's the percentage of each generation that said they own cryptocurrency: Gen Z: 22% Millennials: 43% Gen X: 23% Baby boomers: 8% Cryptocurrency is a relatively recent investment option, so for the most part, these results are what you'd expect. Millennials are much more open to it than any other group, and baby boomers largely avoid it. The biggest surprise is Gen Z. As a whole, these young investors seem to be far more skeptical about crypto than millennials.
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