Swedish regulators warn consumers against crypto as markets tumble
Sweden's financial regulator thinks retail investors should stay away from financial products that have volatile cryptocurrencies as their underlying asset. Sweden's financial regulator, Finansinspektionen, or FI, has issued a fresh warning to retail traders about the high risks and low consumer protections associated with crypto-related investments.In an announcement published on Feb. 22, the regulator wrote that while it had already issued a warning regarding the risks associated with Bitcoin (BTC) trading, it was publishing further advice following its completion of a wider study of the....
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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....
Alarmed by the rising energy needs of cryptocurrency mining, Sweden’s financial and environmental regulators have recently proposed an EU-wide ban on proof-of-work coin minting. The Swedish officials believe this would encourage a move towards a more energy-efficient extraction of bitcoin while supporting the transition towards climate neutrality in Sweden and Europe. A state-run power company warns, however, that restrictions could have an adverse effect on global carbon emissions.
Expensive Bitcoin Generates More Emissions, Swedish Authorities Allege
The rising value....
According to the CEO of Sweden-based company Klarna, accepting bitcoin transactions could allow smaller merchants to access the global marketplace. Brian Billingsley says that the company's goal is to remove friction for online consumers. "We've done internal pilots with bitcoin. We love the concept of a consumer paying with bitcoin, [but] we haven't seen a consumer experience to date that really makes it super frictionless," Billingsley said in an interview with CoinDesk. Frictionless Bitcoin Transactions. For now, Klarna isn't looking to join the growing list of online startups that have....
Just when you thought the folks in Europe were in love with bitcoin, regulators at the European Banking Authority (more commonly known as EBA) have released a warning to European citizens on the dangers of bitcoin. Thankfully, the warning is designed to educate citizens on the possibility of theft and fraud, noting especially that those who dabble in bitcoin are not protected by EU regulations, and as such, should take caution when getting involved in the world of digital currencies. "Consumers should be aware that exchange platforms tend to be unregulated and are not banks that hold their....
Have you heard about casino without Swedish license and wondered why those are so special? What exactly does the Swedish license mean, and why is it becoming so popular to find casinos without it? This article delves deep into the intricacies of this phenomenon and the online casinos operating without a Swedish gambling license. With […]