ESMA joins the chorus of regulators warning of ICO risks

Europe’s financial watchdog has become the latest regulator to warn investors about initial coin offerings (ICOs), describing the market as “very risky and highly speculative”.

The European Securities and Markets Authority has issued a warning on risks of ICOs for investors, saying they were unregulated, volatile, not transparent and technologically untested.

The regulator warned that many ICO projects could turn out to be fraudulent and were vulnerable to illicit activities such as money laundering.

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