Israeli Regulators Issue Joint Warning on Cryptocurrencies
The Bank of Israel (BoI) and the Israeli Ministry of Finance have issued a joint statement calling on the public to exercise caution with regard to digital currencies. The warning falls in line with what we've heard from regulators across the world over the past few months. The Bank of Israel and the ministry stress that digital currencies are not legal tender, nor are they issued or backed by a central bank, which means there is not legal requirement for anyone to accept or exchange them. The joint statement was issued following a meeting convened by the Governor of the Bank of Israel,....
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Several European regulators have issued a joint warning on crypto assets. “These assets are not suited for most retail consumers as an investment or as a means of payment or exchange,” they stressed.
EU Supervisory Authorities Warn About the Danger of Investing in Crypto Assets
Three European Supervisory Authorities (ESAs) issued a joint statement warning about the risks of crypto assets Thursday.
The European Banking Authority (EBA), the European Insurance and Occupational Pensions Authority (EIOPA), and the European Securities and Markets....
The National Bank of Belgium (NBB) and the Belgian Financial Services and Markets Authority (FSMA) have issued a joint statement, warning investors about the pitfalls of investing in digital currencies such as bitcoin and litecoin. The statement points out that digital currencies are becoming relatively popular and attracting media attention, but they are also drawing in speculators looking to make a quick buck on bitcoin volatility. Risks compounded by lack of regulation. The NBB and the FSMA stress that digital currencies are not issued by a central bank or a licensed issuer of....
Over the past two months numerous regulators have issued warnings against the use of digital currencies, and some have even taken concrete steps to halt trading, most notably China and India. Israel, however, appears to be taking a different approach. Israeli regulators are not ignoring digital currencies, they are simply waiting to see what the rest of the world does about them. Certain Israeli financial institutions are engaged in bitcoin transactions, and they would like to see clear guidance from regulators. However, the Bank of Israel, the Israel Securities Authority and government....
The Spanish financial markets watchdog and the country’s central bank criticized — again — cryptocurrencies as an investment asset. The entities issued a joint statement warning about the high risks the cryptocurrency market poses. Document: Crypto Adoption as a Payment Means ‘Is Still Limited’ Per the paper, the Bank of Spain and the National Securities Market Commission (CNMV) reaffirmed their stance against considering bitcoin (BTC) as a means of payment. After dismissing cryptos as secure investment assets, they also pointed out the lack of regulation in....
The Financial Supervisory Commission of the Republic of China and the Central Bank of the ROC have issued a joint statement warning against the use of bitcoin in Taiwan. The regulators said bitcoin remains volatile, that it does not have any legal protection, and that it is not issued by a monetary authority. The regulators noted that bitcoin trading is highly speculative and that investors should be wary of volatility, cyber attacks, malicious defaults, theft and other risks. Apart from the now more-or-less standard list of warnings and concerns, the regulators also announced that they....