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Esma reiterates cryptoassets warning
Europe’s main securities regulator has repeated its warning on the danger of investing in unregulated cryptoassets.
The statement from the European Securities Markets Authority (Esma) was part of its ‘Trends, Risks and Vulnerabilities 2021’ report.
“Crypto-assets come in many forms but the majority of them remain unregulated in the EU,” states the report. “This means that consumers buying and/or holding these instruments do not benefit from the guarantees and safeguards associated with regulated financial services.”
Esma had issued a similar warning in February 2018 but felt compelled to repeat itself given that virtual currencies like bitcoin “continue to attract public attention” .
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