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The European Supervisory Authorities' Warning on the Risks of Cryptoassets
March 24, 2022On March 17, 2022, the European Banking Authority, the European Insurance and Occupational Pensions Authority and the European Securities and Markets Authority (together, the European Supervisory Authorities or “ESAs”) published a warning to EU retail investors on the risks of cryptoassets. The ESAs’ view is that cryptoassets are not suited for most retail consumers as an investment or as a means of payment or exchange.
