European regulatory authority warns of warning teaching” from crypto crash

crypto investors should take the market crash as a "precaution" to invest money in risky, non-regulated assets and cannot expect any kind of emergency campaign, said Europe's Supreme Securities.

"We warned before this year.

The global cryptoma market fell by more than 70 percent last year, and Ross said that she was concerned about the effects on small investors.

"I think it is a real question whether many of them will survive...

she added that there was no view of a European rescue operation for investors in her own pocket because the warnings of the dangers are so widespread.

In March, the ESMA and the other leading European financial supervisory authorities warned consumers of the "very real way to lose their entire invested money" if they bought cryptocurrency, and used a stronger language than a similar warning a year earlier.

"We all said that this is something that is currently not regulated, not something in which this represents a control over the providers.

The ESMA is preparing to take on license for Europe's largest crypto-asset service provider as part of a groundbreaking agreement that has been agreed in Brussels last month and also contains provisions such as mandatory environmental information and certain consumer protection for things such as lost crypto wallets.

The deal comes into force from mid -2023 and has a implementation period of 18 months. Ross said it was important to act as soon as possible and to urge the existing national regulations to a "convergence", repeating the ECB's demands from last week.

The ESMA also observes the developments in the raw material and other markets, since inflation and interest rates increase and the greatly deteriorating economic environment drives the volatility.

"We see real risks of market reactions to the changing economic environment," said Ross, adding that the regulatory authorities try to understand "where these risks could arise. At least we are aware of the considerable market corrections that could happen."