*The European regulator cautions that 鈥榗onsumers must be alert to the high risks of buying and/or holding these instruments, including the possibility of losing all their money鈥�

Alexander Davis | 绿帽献妻

While emphasising that crypto-assets are 鈥渉ighly risky and speculative鈥�, Europe鈥檚 top markets regulator, again, has warned investors that they are exposed to 鈥渟ignificant risks鈥� from the rapid rise in Bitcoin and other cryptocurrencies.

The Paris-based European Securities and Markets Authority used its twice-yearly risk report published Wednesday, March 17 to caution that 鈥渃rypto-assets are highly risky and speculative鈥�, reports Bloomberg.

The regulator stated that 鈥渃onsumers must be alert to the high risks of buying and/or holding these instruments, including the possibility of losing all their money.鈥�

The majority of crypto assets are unregulated in the European Union, and authorities are considering new legislation to oversee the markets, according to report.

Bitcoin has soared about 900 percent over the past year to trade around $55,000 Wednesday, as retail investors piled into online crypto trading during the Coronavirus pandemic.