EU watchdogs warn consumers of cryptocurrency ‘pricing bubble’ By Reuters


© Reuters. Representation of the Bitcoin virtual currency standing on the PC motherboard is seen in this illustration picture

LONDON (Reuters) – Virtual currencies such as bitcoin have shown clear signs of a pricing bubble and consumers could lose all their money, the European Union’s banking, securities and insurance watchdogs said on Monday.

Cryptocurrencies are highly risky and unregulated products that are unsuitable as investment, savings or retirement planning products, the regulators said in a joint statement.

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