-ESMA Chair Verena Ross has cautioned investors about cryptocurrency investing after the crypto market lost 70% of its value.
-She noted that there is a real question about whether many crypto assets will survive.
– Ross expressed concerns about small investors losing money, citing that the global crypto market has shrunk by more than 70% in the past year.
-In March, ESMA and other leading European financial regulators warned consumers that many crypto assets are highly risky and speculative, noting that investors face the very real possibility of losing all their invested money if they buy these assets.
-Last month, the president of the European Central Bank (ECB), Christine Lagarde, warned that crypto assets and decentralized finance (defi) could pose financial stability risks.