EU Regulator Warns About Crypto — Questions Whether Many Will Survive

07/14 01:49

According to News.bitcoin, European Securities and Markets Authority (ESMA) Chair Verena Ross says that the crypto market crash should be a “cautionary lesson” for investors. Emphasizing that there was no prospect of a European bailout for out-of-pocket crypto investors, she said: “We already warned earlier this year . . . about the serious risks retail investors were taking investing in some of the crypto assets.” Ross expressed concerns about small investors losing money, citing that the global crypto market has shrunk by more than 70% in the past year. She opined: “I think there is a real question about whether many of these [crypto assets] will survive.” The ESMA chair continued: “I hope that some of these investors will see this and will take a cautionary lesson at least to think about how much of their money they invest in these kinds of assets.”

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