Belgian regulator wants people to be warned about crypto in advance.
The FSMA will also boost educational efforts through its Wikifin financial education center. In preparation for its new role, the FSMA commissioned a survey of 1,000 Belgian investors in November 2022 who placed money in investment products beyond savings, term deposit and pension accounts.Over a third of investors surveyed in the age group 16-29 bought virtual currencies, with the proportion falling to 11% for the 50-59 age group. Men make up 80% of the buyers.
Crypto investments tended to be smaller than traditional ones, with only 15% of investors holding more than 10,000 euros’ worth of crypto and 31% holding less than 500 euros worth. Crypto investors were more dependent on the advice of friends, family, apps and “robo-advice” than traditional investors.
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