Several European regulators have issued a joint warning on crypto assets. “These assets are not suited for most retail consumers as an investment or as a means of payment or exchange,” they stressed.
EU Supervisory Authorities Warn About the Danger of Investing in Crypto Assets
Three European Supervisory Authorities (ESAs) issued a joint statement warning about the risks of crypto assets Thursday.
The European Banking Authority (EBA), the European Insurance and Occupational Pensions Authority (EIOPA), and the European Securities and Markets Authority (ESMA) “warn consumers that many crypto assets are highly risky and speculative.” Their statement also outlines “key steps consumers can take to ensure they make informed decisions.”
The regulators explained that their warning followed “growing consumer activity and interest in crypto assets and the aggressive promotion of those assets and related products to the public, including through social media.”
The supervisory aut