German Financial Authority Warns on ICOs…Again; Nothing Changed
Germany issues a warning against ICOs…again. Separated by just six days.
As governments around the world continue spinning their wheels considering possible regulations for cryptocurrencies and ICOs, most are issuing warnings to consumers. The warnings are coming in waves, one after another. Some governments are so nervous, in fact, that they have issued warnings more than once.
On November 15, the German government made a statement warning cryptocurrency buyers that purchases or investments in ICOs are highly speculative and carry substantial risk.
The many warnings are a sign that governments are extremely anxious about how to control the burgeoning investment industry.
Apparently the risks of ICO and cryptocurrency investment are so great that they warrant double warnings from some governments, and with the exact same verbiage. The Germans come after a long slew of other governmental regulations including Singapore, the UK, Iran, and Ukraine.
Apparently at times, one warning just isn’t enough.