Slovenian financial regulator warns citizens against investing in cryptocurrencies

Slovenian Financial Stability Board, the national financial watchdog, warned citizens that digital currencies were highly risky assets, reports FinanceMagnates.

Representatives of the regulator stated that citizens that took on investments in cryptocurrency projects outside the country might face fraud schemes. Moreover, the board highlighted that digital assets were not backed up by anything and their issuance was of a decentralized nature. In other words, there is no legal protection in the field of cryptocurrency operations.

“Investors in virtual currencies have to take into consideration all risks prior to investing funds in a specific project or currency. It is important to understand that nobody except for the investor bears the risks,” the board said in a statement.