FCA Right to Propose Stop to Marketing Crypto as ‘Inflation Resistant,’ UK Industry Members Say

“To the extent that people bought into crypto during the bull run on the back of rising inflation and then lost money in the subsequent crypto winter, then one could say that the inflation narrative has been harmful,” Shea said, adding that cryptocurrencies are not designed to move one-to-one against inflation. “The inflation narrative is more medium-to-long term and is driven by the expectation [of] the large increase in fiat money supply witnessed over the past several years.”