The chairman of the Cyprus Securities and Exchange Commission (CySEC), Dr. George Theocharides, warned crypto investors about the risks associated with investing in digital assets.
The rapid growth of the crypto asset market, as well as the systems that support it, creates new problems not only for investors, but also for regulators. Although technological innovations promise promising opportunities, such as improved rapid access to financial services, the immaturity of the ecosystem and the assets themselves can hinder confidence building,” he said.
The expert also stressed the danger of aggressive marketing cryptocurrency campaigns supported by celebrities. Celebrities often mislead investors, especially retail ones.
Teoharides added that CySEC is determined to play a key role in better informing investors about the risks associated with investments. According to him, the regulation of the crypto industry is something that regulators should deal with urgently.