Think carefully before buying a financial product containing crypto-assets. The risks are significant and the protections for you as a consumer are weak, FI warns today.
FI has previously warned of the risks associated with trading in crypto-assets, such as bitcoin. FI has now carried out a thematic review of the market for financial instruments with underlying crypto-assets.
"Products based on crypto-assets are unsuitable for most, if not all, retail consumers. The consumer protection available is inadequate, and crypto-assets are difficult, if not impossible, to value on a credible basis. That is why we are warning consumers about the risks associated with these financial products," says FI's Director General Erik Thedéen.
There is a high risk that consumers will lose money on their investment. This type of product is also not subject to the same consumer protection regulations that apply to many other types of investments.
FI is therefore reaching out to consumers to highlight the risks surrounding purchases of financial instruments with bitcoin or other crypto-assets as an underlying asset.