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Finance and Accounting

Crypto-assets and blockchain

Crypto-assets combine two things worth keeping apart: a technology, distributed ledgers with keys, wallets and smart contracts, and a speculative market built on top of it. The first is a legitimate subject for developers and payment engineers. On the second, the UK Financial Conduct Authority tells buyers to assume they could lose everything they put in and says compensation cover is highly unlikely. The sections below explain the mechanics and give no advice to buy anything.

Why this topic exists: Distributed ledgers, keys and wallets, smart contracts, tokens and DeFi: the technical side rests on the Bitcoin and Ethereum documentation, the consumer side on the FCA's warning that a crypto investor should be prepared to lose everything.

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Last reviewed 26 September 2026 · Getting Digital