Monday morning news slammed with cautions and alerts for cryptocurrency investors.
European authorities like The European Securities and Markets Authority, or ESMA, the European Banking Authority, or EBA, and the European Insurance and Occupational Pensions Authority have recommended the cryptocurrency investors to stay vigilant as the absence of the regulating rules could make it a vicious merchandise.
“The [virtual currencies] currently available are a digital representation of value that is neither issued nor guaranteed by a central bank or public authority and does not have the legal status of currency or money”, The regulator stated.
He further added by saying that it is high risk as, neither they offer any legal security or EU law on the possession, nor backed by any substantial assets.
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https://zycrypto.com/eu-regulators-cryptocurrencies-can-put-jeopardy/