Surge in Crypto Trading Addiction Among Young Men Spurs NHS Calls for Stricter Regulations

June 14, 2024
Surge in Crypto Trading Addiction Among Young Men Spurs NHS Calls for Stricter Regulations
  • NHS chief Amanda Pritchard raises concerns about the rising number of young men seeking treatment for Bitcoin trading addiction.

  • NHS addiction clinics report an increase in compulsive crypto traders attracted to get-rich-quick schemes involving cryptocurrencies like Bitcoin and Ethereum.

  • Men under 35 are particularly at risk, showing symptoms such as constantly checking prices, spending all free time trading, experiencing financial trouble, and having mood swings.

  • The lack of regulation in the crypto sector is a significant concern, leading to calls for tougher rules from MPs and the Treasury Select Committee.

  • Dr Niall Campbell emphasizes the parallels between cryptocurrency addiction and gambling addiction, highlighting the need for treatment and abstinence.

  • NHS England has opened more specialist centres for gambling addiction to address the growing social need.

  • The addictive nature of crypto trading poses serious consequences for mental, financial, and relationship health.

  • There is a growing worry about the negative impact of unregulated cryptocurrency trading, prompting a call for action to protect investors from scams and market fluctuations.

Summary based on 5 sources


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