Luxembourg warns against cryptocurrencies and initial coin offerings

The market watchdog of Luxembourg has become the latest regulator to ring the alarm bell about the "substantial risks" linked to virtual currencies and initial coin offerings (ICOs).

The Commission de Surveillance du Secteur Financier of Luxembourg has warned investors against the dangers of cryptocurrencies and ICOs.

On virtual currencies, the CSSF said that, currently, there is no uniform definition of virtual currencies, either at national or European level.

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