Research published by the Financial Conduct Authority (FCA) estimates that 2.3 million people now hold cryptoassets, up from 1.9 million last year.

Seventy-eight percent of adults have now heard of cryptoassets, up from 73 percent in a year.

The consumer research shows that as holding cryptoassets has become more common attitudes to them have changed: 38 percent of crypto users regard them as a gamble (down from 47 percent last year), while increasing numbers see them as either a complement or alternative to mainstream investments.

By contrast, the level of overall understanding of cryptocurrencies is declinin...