The European Union's financial watchdogs, which include the EBA, ESMA and EIOPA, have prepared a publication warning citizens of the dangers of losing money when investing in digital assets. The full statement is published on the official portal of the European Securities and Markets Authority.

The statement indicated that before concluding that some cryptocurrency assets are risky and speculative, the supervisory authorities have conducted a thorough analysis of the market. The reason for the study and the publication of a warning following its results was the high degree of consumer interest in digital assets, the regulators explained.

They believe that a large portion of consumers lack the awareness to deal with digital assets. And it's not just about investment activities, according to regulators, but also about payments and transfers. Those who bought cryptocurrency, more often than not, then risk forever parting with the invested funds.

In addition, the European agencies did not ignore the advertising in the cryptocurrency industry. Experts concluded that it can often mislead consumers.