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Newsletter Articles

The European Supervisory Authorities («ESAs») warn retail consumers on the risks of crypto-assets, related products and services

28 Mar 2022 FinTech

On March 17th, the ESAs published a warning reminding consumers of the risks of crypto-assets, and highlighting that crypto-assets “are not suited for most retail consumers as an investment or as a means of payment or exchange”. In their warning, the ESAs set out key steps that consumers can consider in order to make an informed decision regarding crypto-assets, related products and services.

In addition, the ESAs pointed out the main risks related to an investment in crypto-assets, such as the risks associated with extreme price movements, which can lead to the loss of all the money invested, with misleading information, and the absence of protection, considering that crypto-assets and related products and services are mostly unregulated in the European Union.