Almost one in five people in this country own cryptocurrency and interest in crypto assets, especially among young people, is on the rise but, unfortunately, so too is investment fraud. Almost €12.5 million was lost to investment fraud last year. Last month, the Central Bank issued a warning on the potential risks of investing in crypto assets because it is an unregulated industry. We urgently need to do more to bring awareness of the risks associated with investing in an unregulated industry such as this and to highlight the scams that are out there. Has the Government plans to regulate the cryptocurrency industry? Will the Taoiseach consider an awareness campaign around the risks associated with cryptocurrency?

The Central Bank is responsible for the regulation of banks. Many reviews are under way by the ECB and central banks generally on the phenomenon of cryptocurrencies. It is an unregulated area and people need to be cautious and careful in the utilisation of such channels.