Germany's BaFin sounds the alarm over ICO risks

Germany's financial regulator has become the latest watchdog to warn investors about the dangers of investing in cryptocurrency and initial coin offerings (ICOs).

The Federal Financial Supervisory Authority said that ICOs carry "substantial risks for investors", including "the possibility of losing their investment completely".

The authority added that since projects financed using ICOs are still in their early stages, their performance and business models have not been tested.

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