Spanish and European supervisory authorities issue fresh warnings on the risks of investing in crypto assets

The European Supervisory Authorities for the financial system (EBA, ESMA and EIOPA) have issued a warning on the risks posed by crypto assets to consumers, stressing that they are not suitable as an investment or as a means of payment or exchange for most retail investors. Within Spain, the CNMV, the Bank of Spain and the Directorate General for Insurance and Pension Funds have published a joint communication announcing that they agree with the content of the ESAs’ warning and the assessment of the risks they identified.

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