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Prepare a “beautiful soul”, get ready to lose all the crypto you have

Investors risk losing all the crypto they have and could fall prey to scams, according to the European Union’s securities, banking and insurance watchdogs. know in a joint statement on March 17. “People will face the very real possibility of losing all their invested money if they buy these properties,” the three EU authorities said in a statement.

The statement issued a series of direct warnings to crypto investors, that they have no protections or claims under current European Union financial services law.

Regulators are growing increasingly worried as investors buy a total of 17,000 different cryptocurrencies without being fully aware of the risk. Of which, bitcoin and ether account for 60% of the market.

“Investors should be wary of the risk of misleading advertising, including through social media and celebrities. They should be especially wary of promises of fast or high returns, especially especially those that present visions that are too beautiful to be real,” the statement said. Investors should also be aware that energy consumption for the production of some cryptocurrencies is very high and this will have a negative impact on the environment.

https://cafef.vn/cac-co-quan-quan-ly-eu-hay-chuan-bi-mot-tam-hon-dep-san-sang-de-mat-tat-ca-tien-dien- tu-ma-ban-dang-co-20220318060657968.chn


According to Linh Chi

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