Be ready to lose all your money in crypto, EU regulators warn

FILE PHOTO: A representation of cryptocurrency Bitcoin is seen in this illustration taken August 6, 2021. REUTERS/Dado Ruvic/Illustration

LONDON (Reuters) - Consumers risk losing all their money invested in cryptoassets and could fall prey to scams, the European Union's securities, banking and insurance watchdogs said in a joint statement on Thursday.

"Consumers face the very real possibility of losing all their invested money if they buy these assets," the three EU authorities said in a statement.