EU markets agency warns new crypto coins could prove worthless

Europe's top markets regulator has warned investors about the pitfalls of buying newly issued crypto coins, an experimental and unregulated form of online crowd funding particularly used by start-up businesses.

The European Securities and Markets Watchdog (ESMA) said on Monday such Initial Coin Offerings (ICOs) were unregulated, volatile, not transparent and technologically untested.

"ICOs are extremely risky and highly speculative investments," the agency said, adding there was a risk of "the total loss of your investment".

http://www.reuters.com/article/us-europe-regulator-coin/eu-markets-agency-warns-new-crypto-coins-could-prove-worthless-idUSKBN1DD143