February 12, 2018 / 1:09 PM / 2 months ago

EU watchdogs warn consumers of cryptocurrency "pricing bubble"

LONDON, Feb 12 (Reuters) - Virtual currencies such as bitcoin have shown clear signs of a pricing bubble and consumers could lose all their money, the European Union’s banking, securities and insurance watchdogs said on Monday.

Cryptocurrencies are highly risky and unregulated products that are unsuitable as investment, savings or retirement planning products, the regulators said in a joint statement.

Reporting by Huw Jones; Editing by David Goodman

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