News Alert from the European Supervisory Authorities 18/03/2022

The European Supervisory Authorities (EBA, ESMA and EIOPA — the “ESAs”) warn consumers that many cryptocurrencies are a highly risky and speculative investment and are not suitable for most small consumers as an investment or medium of exchange or payment.

EU financial regulators establish a series of aspects that consumers must know and check, namely warning that all the money invested can be lost, that prices can fall and rise rapidly in short periods and the danger of becoming a victim of scams, fraud, operational errors or cyberattacks, given that it is very unlikely that one will be entitled to protection or compensation in adverse situations.

You can consult the text of the ESAs here, or click on the link to the respective ESMA page.