ESMA warned crypto investors on Tuesday: learn more

ESMA says it will take time to fully implement the MCA. So Crypto investors are at risk until then. Bitcoin is trading well at the $29,000 level on Tuesday.

All eyes are on Bitcoin after ESMA – the European Securities and Markets Authority warned crypto investors on Tuesday.

MCA takes time to implement

Earlier this year, the European Union approved broad rules for crypto-assets in what it calls the Markets in Crypto-Assets Regulation.

On Tuesday, however, ESMA warned crypto investors that it could take until December 2024 for MCA to be fully implemented.

It is also worth mentioning here that crypto companies can continue to do business in states that offer an 18-month transition period without EU approval – meaning that full protections in these EU states will not be available until July 2026. .

At the time of writing, Bitcoin is trading well at the $29,000 level.

ESMA says no cryptocurrencies are ‘safe'

ESMA, however, confirmed on Tuesday that it is working closely with national regulators and is pushing markets to implement the Crypto-Assets Regulations as soon as possible.

Although fully protected, he advised investors to exercise caution when investing in cryptocurrencies. The EU's watchdog statement says:

Even with MiCA's implementation, retail investors should be aware that there are no such things as safe cryptocurrencies.

Currently, crypto assets are not regulated by the European Securities and Markets Authority. Regulating the crypto market has been a priority for ESMA since the collapse of FTX and Terra Luna.