AFM Warns Against Retail Crypto Investments

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The Dutch financial regulator, AFM (Autoriteit Financiële Markten) recently issued an official warning against trading and investing in crypto-based assets.
According to the regulator, people should not invest money into short or long-term crypto investment opportunities. This is not the first time the agency has issued such a warning – the regulator has made its position known since 2017.
According to the regulator, cryptos carry inherent risks, such as collapsing in value, their sheer complexity and no cohesive regulation, to name a few. The agency also said that although they are not able to over the cryptocurrency market as they do other, more regulated markets, they are still careful to observe the current trends in the digical currency industry.
Even more importantly, the regulator pointed out that major changes are expected to occur in 2024, when the European Union’s Markets in Crypto-Assets Regulation (MiCAR) is implemented.
Source
Financial regulators are often nervous about cryptos, and they have a good reason to be. The lack of regulation can be a major problem for the industry.