Crypto Assets Poorly Understood by Retail Investors, BOE Says

Most retail investors who have put money into digital currencies probably don’t understand exactly what they bought or the risks involved, a Bank of England official said.

Jon Cunliffe, deputy governor for the UK central bank, stepped up his call for authorities to regulate cryptoassets to ensure the market is stable and transparent.

Jon Cunliffe

Photographer: Chris Ratcliffe/Bloomberg

“There’s a long tail of retail investors who have invested in cryptoassets,” Cunliffe said at a web event on Tuesday hosted by the Wall Street Journal. “Do they all understand what they’ve invested in? I think not. For that long tail of retail investors, I’m …