One in three of us own crypto currencies, crypto ownership is estimated to have doubled in the UK last year – and two of the world’s biggest crypto exchanges face lawsuits from the securities regulator, the SEC, in the US. Three statistics from the FT this week that put warnings from the UK’s financial regulator – that crypto is largely unregulated and high risk, and investors should be prepared to lose all their money – into context. The FCA noted that it is up to consumers to decide whether to buy crypto, but that many regret making a hasty decision. Its new advertising rules will come into force on 8 October, requiring crypto firms to ensure people have the appropriate knowledge and experience to invest in crypto. Crypto firms will also have to ensure that they put in place clear risk warnings and ensure adverts are clear, fair and not misleading.

More people (and businesses) owning and using more crypto currencies and other digital assets means that they will feature in more insolvencies. So perhaps a timely reminder to revisit our previous articles in this space, looking at crypto assets in insolvency and setting out four key considerations for insolvency practitioners.