Bruce Cockburn: 50 years of music, spirituality and social justice | SaltWireLONDON - Investors will not be protected under European Union cryptoasset market rules until at least the end of 2024, and even then they should still be ready to lose all their money, the bloc's securities watchdog said on Tuesday.
Cryptoassets are currently unregulated under EU securities rules, and the European Securities and Markets Authority said investors would not benefit from any EU-level regulatory and supervisory safeguards, or recourse mechanisms under the new rules, known as MiCA, until December 2024. Full protections may not be available in EU states that grant an 18-month transitional period for crypto firms to operate without an EU licence, meaning customers may not be covered until July 2026.