A group of top financial regulators in the European Union (EU) has warned consumers that crypto assets are extremely risky.
From the European Banking Authority (EBA), European Securities and Markets Authority (ESMA), European Insurance and Professional Pensions Authority (EIOPA) formed European Supervisory Authorities (ESA), 17 March warned that crypto-assets in history are “extremely risky” and that adequate measures must be taken to protect consumers who are not currently in the EU.
In the warning, crypto investors if they buy these assets, they will face the possibility of losing all their money invested. regulators also misleading advertisements, including through social media and influencers and fast, unrealistic projects that promise high returns stated that they should be careful about the risks