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European Regulators Fire Warning Over Virtual Currency Risk

Europe’s top financial watchdogs have warned consumers of the high-risk nature of virtual currencies, the latest in a raft of regulators to raise serious concerns about the unregulated products.

The European supervisory authorities (ESAs), which consist of the European Banking Authority and its counterparts in the securities, insurance and pensions industries, warned investors on Monday that buying virtual currencies (VCs) could result in significant financial loss.

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