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New Zealand Financial Authority Warns Investors Against Digital Assets
Summary: New Zealand’s Financial Markets Authority (FMA) has issued a warning to investors stating that they must be prepared to lose their money if they invest in digital assets, as reported by The Herald. FMA pointed to Bitcoin's recent volatility as a reason not to invest in digital assets. The warning comes days after the UK's ...
New Zealand’s Financial Markets Authority (FMA) has issued a warning to investors stating that they must be prepared to lose their money if they invest in digital assets, as reported by The Herald.
FMA pointed to Bitcoin's recent volatility as a reason not to invest in digital assets. The warning comes days after the UK's financial conduct authority (FCA) issued investors a similar warning. The dual warnings illustrate regulators continued wariness regarding digital assets.
“The FMA shares the FCA’s (Financial Conduct Authority) concerns that some crypto exchanges are promising high returns and customers should be prepared to lose all of their money,” reads the report.
The FMA also highlighted that in New Zealand, as in other nations, crypto assets are not yet regulated.
By Emily Mason
Tags: New Zealand,Regulation,UK
Link: New Zealand Financial Authority Warns Investors Against Digital Assets [Copy]
