European financial regulators have published an official document, warning potential investors against purchasing digital assets.
The European Securities and Markets Authority (ESMA), the European Banking Authority (EBA), and the European Insurance and Occupational Pensions Authority (EIOPA) inform potential cryptocurrency buyers that such assets are quite unstable.
In particular, one reports that the majority of cryptocurrencies are subject to the high volatility and the risk of becoming a bubble. Besides, Europe’s crypto investors still have no legal protection from default of obligations by ICO project organizers and cryptocurrency founders. Such digital assets are not transparent and informative. Finally, regulators do not guarantee that cryptocurrency holders will be able to exchange them for fiat money.
Subscribe to the news of Blockchain & Bitcoin Conference Prague on Facebook and Twitter!
