International articles

In 2023, there was a debate in the UK about whether to regulate cryptocurrencies as financial instruments or as gambling. While the British government is seeking to create a "crypto hub" and wants to subject cryptocurrencies to standard financial supervision (under the Financial Conduct Authority – FCA), an influential parliamentary committee is proposing that cryptocurrencies be regulated in a similar way to gambling. They argue that trading in crypto assets often resembles the behavior of pathological gamblers—without intrinsic value and without clear social benefits.

Castle Craig, a specialized treatment facility that deals with cryptocurrency addiction, confirms that patients exhibit symptoms identical to those commonly seen in gamblers (depression, hopelessness, suicidal thoughts). Therapists and some lawmakers are therefore calling for gambling-style regulation, including warnings, betting limits, verification of funds, and the option to self-exclude—which already works for online betting, but not for crypto apps.

Some institutions (e.g., CryptoUK or the GFO-X exchange) have labeled the proposal harmful, arguing that it could discourage innovation and harm users because cryptocurrencies would be labeled as gambling without the adequate protection and structure offered by financial regulation.

The government and regulators agree that cooperation between the FCA and the Gambling Commission is necessary, as was evident in the case of the collapse of the Football Index platform, which combined elements of betting and stock exchange trading.

With the growing number of people suffering from cryptocurrency trading addiction, specialized luxury rehabilitation centers are beginning to appear around the world, offering comprehensive programs to treat this specific form of addiction. Therapy at these centers combines modern approaches such as cognitive behavioral therapy, mindfulness, and meditation with complementary relaxation activities such as yoga, massage, and acupuncture to help patients not only overcome their addiction but also improve their overall well-being.

The prices of these treatment programs are very high, often ranging from tens to hundreds of thousands of dollars for a few weeks, which raises questions about the ethics and accessibility of such care.

Critics point out that treatment for crypto addiction is essentially similar to treatment for gambling addiction and should not be viewed as an entirely new medical phenomenon. According to experts, therapy should emphasize abstinence, managing withdrawal symptoms, and developing healthy investing habits.

This trend reflects broader social and legislative issues related to the regulation of the cryptocurrency market and its impact on users' mental health, with more and more experts and politicians calling for stricter rules to help protect consumers from the risks associated with impulsive and irresponsible trading.

An article from Business Insider from February 2025 highlights the growing problem of addiction to cryptocurrency trading, which has many features similar to gambling addiction. Addicted individuals experience strong emotional swings—euphoria from successful trades and frustration or despair from financial losses—which keeps them in a vicious cycle of constant betting and trying to "make it up." Cryptocurrency markets are available 24/7, which significantly reinforces the addiction.

This addiction has serious consequences in personal life – it leads to disrupted family relationships, frequent marital conflicts, and neglect of work responsibilities. Some patients also face legal complications, particularly due to fraud or illegal practices associated with trading. Financial losses can be dramatic and have a long-term impact on living standards.

The article emphasizes the need for better regulation of the crypto market and awareness-raising activities to reduce the risks associated with this form of addiction. It also points out the similarity between gambling regulation and the need to introduce similar rules for cryptocurrency trading, including consumer protection and restrictions on harmful practices.

In the context of a continent where cryptocurrency has enormous potential for financial inclusion, facilitating cross-border payments, and circumventing inefficient traditional banking systems, crypto addiction is beginning to emerge as a serious obstacle to further adoption.

Addiction is particularly prevalent among young people who perceive cryptocurrencies as an easy and quick path to wealth. However, instead of taking a long-term investment approach, they often succumb to impulsive and speculative trading, which often leads to severe financial losses, mental exhaustion, anxiety, depression, and disrupted interpersonal relationships.

The impact on the wider adoption of cryptocurrencies in Africa is significant. Once individuals or those around them experience the negative consequences associated with crypto trading, trust in the entire sector is lost. Furthermore, many cases of addiction and loss receive media attention, leading to cryptocurrencies being perceived as dangerous or unethical investment instruments. This negative image can slow down or even halt institutional support and the willingness of regulators to create a favorable environment for crypto technologies.

The article calls for increased public awareness and policy makers' attention to this phenomenon. In particular, it recommends educating users, strengthening investors' psychological resilience, and considering regulatory measures aimed at consumer protection, similar to those in the gambling sector.

The article focuses on the growing trend of young people in South Korea turning to cryptocurrency investments as a means of financial survival and escape from a difficult economic situation. In a country where youth unemployment is high and rising living costs make everyday life difficult, cryptocurrencies are becoming an attractive, albeit risky, way to quickly increase income or at least keep pace with inflation.

Many young Koreans lack sufficient financial education and often resort to speculative trading without fully understanding the risks. The article also describes how some young investors are beginning to show signs of trading addiction, where impulsive decision-making and the pursuit of quick profits lead to psychological and emotional problems.

At the same time, the article draws attention to the inadequate protection of retail investors in the cryptocurrency sector in South Korea. Although there are some regulatory measures aimed at increasing the security and transparency of trading, there is still a lack of comprehensive programs to prevent speculative behavior and addiction, especially among young people. The author recommends expanding financial literacy and introducing support measures such as educational campaigns, voluntary trading blocks ("cooling-off periods"), and monitoring of suspicious activities to better protect vulnerable investor groups.

Trading cryptocurrencies has gained immense popularity, but it also carries the risk of addiction, which can negatively affect one's mental health, finances, and personal life. Addiction to crypto trading manifests itself in constant market monitoring, impulsive trading without a strategy, investing money that one cannot afford to lose, and neglecting everyday responsibilities. This condition often leads to anxiety, irritability, and repeated unsuccessful attempts to limit trading. Many people do not realize how quickly a hobby can become a problem that requires professional intervention.

The risks include significant financial losses, mental health issues such as depression or stress, and social isolation. The causes of addiction include high market volatility, 24/7 availability of trading platforms, fear of missing out on opportunities, and weak regulation. Technologies and applications that enable easy access to trading can also facilitate the development of addictive behavior.

Prevention and treatment require education, setting limits, and professional psychological help. Social support and specialized counseling centers are also important. Regulatory measures can help reduce risks. Raising awareness about crypto trading addiction is key to protecting investors and their health. Early help and an open approach to the problem can significantly improve the chances of successfully overcoming addiction.

The article addresses a real problem, highlighting a concerning trend where individuals have taken their lives following massive losses in cryptocurrency investments.

The article cites several tragic, specific examples from countries including China, India, Turkey, and South Korea, involving individuals who suffered significant financial ruin from volatile crypto markets, leading them to commit suicide or, in some cases, kill family members first. This phenomenon is not entirely new, as a similar spike in suicides was noted during the 2018 crypto market crash. Research is referenced, suggesting that sudden, large losses in wealth can severely impact mental health, with the effect being more acute for those with higher pre-crash holdings.

While the article notes that cryptocurrencies are popular and highly volatile, it concludes that the number of reported crypto-related suicides is currently too small to be statistically significant as a general trend. Nevertheless, it underscores the fact that the volatility of the crypto market significantly compounds the existing problem of financial distress. 

Ultimately, the article urges investors to be aware of the inherent risks in trading, understand the basic mechanisms of cryptocurrencies, and anticipate worst-case scenarios to avoid overexposure and severe mental health consequences.