Regulation

Top EU regulator: ‘There’s no such thing as a safe cryptoasset’

Esma chair warns crypto remains riskier than traditional assets as new regulation sweeps the bloc

Verena Ross cautioned investors that digital assets don't offer the same protections as traditional financial products
Verena Ross cautioned investors that digital assets don't offer the same protections as traditional financial products Photo: Nathan Laine/Getty Images

The chair of a top European financial regulator says investing in crypto remains risky despite new regulation coming into force in the EU.

“It is important to remember that even with the implementation of the Markets in Crypto Assets Regulation, which is clearly a step forward, there will be no such thing as a safe cryptoasset,” said Verena Ross, chair of the European Securities and Markets Authority.

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