EU regulators issued a crypto-asset risk warning in March 2022

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Archive note: This article covers a joint warning issued on 17 March 2022.

The European Supervisory Authorities — EBA, EIOPA and ESMA — warned that many crypto-assets were highly risky and speculative and might not be suitable for most retail consumers. They highlighted the possibility of losing all invested money, misleading advertising, promises of high returns and limited consumer protection.

The warning did not say that every crypto-asset was illegal. It advised consumers to understand the product, provider and applicable protections before making a decision.

Primary source: Joint ESA consumer warning, 17 March 2022.

This historical report is informational and not investment advice.

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