Investors must face the possibility of losing all their money in crypto assets, a group of top financial regulators in the EU warned consumers on Thursday. By iamsandali
A group of the top financial EU regulators said that consumers must face the "very real possibility" of losing all their money if they buy crypto.Investors must face the possibility of losing all their money in crypto assets, a group of top financial regulators in the European Union warned consumers on Thursday.
The regulators warned that crypto assets are"highly risky" and sufficient measures are needed to protect consumers, which currently do not exist in the EU.by the European Supervisory Authorities made up of the European Banking Authority , the European Securities and Markets Authority and the European Insurance and Occupational Pensions Authority .
The group said that crypto investors must"face the very real possibility of losing all their invested money if they buy these assets" adding that investors should also be privy to misleading advertisements, even on social media and via influencers. It also warned that crypto investors"should be particularly wary of promised fast or high returns, especially those that look too good to be true.
This warning is based on previous similar messages from EU regulators, like the founding regulations of the ESAs, a
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