‘Beware of celebrities pitching crypto’

The European Supervisory Authorities – a group that includes regulators of the banking, securities and markets, and insurance and occupational pensions sectors within the bloc – said crypto-assets are “not suited for most retail consumers,” either as an investment or as a means of payment or exchange.(File pic shows representations of cryptocurrencies Bitcoin, Ethereum, DogeCoin, Ripple, and Litecoin in front of a displayed Binance logo in this illustration. - Reuters)

LONDON: Anyone buying, selling and trading cryptocurrencies should beware, Europe’s top financial watchdogs warned, labeling digital assets as “highly risky and speculative” in a statement published on Thursday.

The European Supervisory Authorities – a group that includes regulators of the banking, securities and markets, and insurance and occupational pensions sectors within the bloc – said crypto-assets are “not suited for most retail consumers,” either as an investment or as a means of payment or exchange.