AFA - Warning about ICO and Cryptomonedes

Warning

04/12/2017

The AFA informs that the European Securities and Markets Authority (ESMA) has warned of the risks on initial currency offerings (ICOs) towards investors by issuing a statement. Find below the link to this document:

https://www.esma.europa.eu/sites/default/files/library/esma50-157-829_ico_statement_investors.pdf


The AFA also warns of the risk associated to investments on cryptocurrencies in general, given the high volatility and lack of investor protection from such products. Moreover, ICOs and cryptocurrencies, by nature, could pose significant fraud, money laundering and terrorist financing risks.


However, the AFA continues to bet on new Fintech technologies and, in general, on technical and regulatory advances within the financial sector, always assuring the protection of investors.

Andorra la Vella, 4 December de 2017