The UK’s financial sector is witnessing a significant shift. UK City Minister Bim Afolami is calling upon young investors to pivot from the allure of crypto and direct their financial prowess towards the stability of stocks, particularly in domestic giants like NatWest.

This shift is a response to the evolving dynamics of the UK stock market and the stringent regulations recently imposed on the crypto sector by the Financial Conduct Authority (FCA).

Risk-Hungry UK Youth Flock to Crypto

Afolami, in a recent interview, underscored the persistent enthusiasm among the youth to own assets. However, he noted a gap in their perception of traditional markets as viable platforms for investment. Afolami emphasized the need to diversify investment portfolios beyond digital assets.

“That’s one of the things that I want to change — to say, don’t just own crypto, own a share of NatWest, don’t just own crypto, invest with your savings through automatic enrollment, invest in Britain.”

Despite these pleas, market analysts predict that the number of crypto users in the UK will climb above 20 million in 2024.

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Author: Kyle Baird

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