After FTX’s demise the Spanish securities regulator CNMV issues a warning against cryptocurrency investments and urges caution

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Investors have been cautioned by the Spanish securities regulator (CNMV) not to invest money in businesses involved in cryptocurrencies.

Vice President of the organization Montserrat Martinez Parera claimed that the failure of the cryptocurrency exchange FTX was partly due to a lack of oversight and that anyone considering investing in cryptocurrencies had to exercise extreme caution owing to the absence of relevant regulations.

CNMV, Spain’s Securities Authority, Issues a Warning Regarding Crypto-Related Investments

One of the top three cryptocurrency exchanges globally, FTX, recently went out of business, according to the Spanish securities regulator, the CNMV.

Martinez Parera also cautioned investors against starting this kind of investment journey and said they should proceed with extreme caution when considering any opportunity related to cryptocurrencies because this ecosystem still lacks regulation and control.

Martinez Parera also criticized platforms for portraying their financial investment services as if they were games in their advertising, particularly in the cryptocurrency sector.

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