Crypto is high risk and largely unregulated in the UK. This page explains, in plain English, how crypto is treated by UK regulators, what protections you do and don’t have, and how to check a firm and avoid scams. It is educational information only, not financial advice.
Is crypto regulated in the UK?
Crypto itself is largely unregulated in the UK. Firms that carry out certain cryptoasset activities must register with the Financial Conduct Authority (FCA) under anti-money-laundering rules, but this registration is not the same as being “authorised” or endorsed, and it does not mean your money is protected. The FCA has also introduced rules on how crypto can be promoted to UK consumers. The regime is changing, so always rely on the FCA’s own current guidance.
What protection do I have?
Most crypto is not covered by the Financial Services Compensation Scheme (FSCS), and you typically cannot complain to the Financial Ombudsman Service if things go wrong. If a platform fails, is hacked, or you are scammed, you may not get your money back. Never assume crypto is protected in the way bank savings or mainstream investments are.
How to check a firm
- Search the FCA Register to see whether a firm is registered or authorised.
- Check the FCA Warning List for firms the FCA has warned about.
- Be cautious with any firm not appearing where you would expect — and confirm website addresses carefully.
Common warning signs of a scam
- Promises of guaranteed or unusually high returns.
- Pressure to act quickly, or to invest more to “unlock” withdrawals.
- Unexpected contact, celebrity endorsements, or fake apps and websites.
- Requests to give someone remote access to your device or wallet.
If something feels wrong, stop and check. You can report scams to Action Fraud.
Crypto is high risk and largely unregulated in the UK. You could lose all the money you invest, and most crypto is not protected by the FSCS or the Financial Ombudsman Service. This is educational information only, not financial advice. Only invest what you can afford to lose.