Bitcoin WARNING: EU Commission “Crypto is NOT currency ahead of imminent crackdown”
BITCOIN and other cryptocurrencies do not have a "guaranteed value" and should come with a "clear and frequent" warning to investors in order to safeguard them from possible risks to their investments, EU financial services commissioner Valdis Dombrovskis said
“Cryptocurrencies – which are not currencies in a traditional sense and whose value is not guaranteed – have become subject to considerable speculation: this exposes consumers and investors to substantial risk, including risks to lose their investment.
Bitcoin price: Valdis Dombrovskis said cryptocurrencies do not have a “guaranteed value”
But despite calls for caution from investors, the EU Commissioner suggested Brussels recognised the technological importance of the structure driving the trade of bitcoin and other cryptocurrencies – the blockchain.
“We concluded that blockchain technology holds strong promise for financial markets and to remain competitive Europe must embrace this innovation”