ESAs - Pan-EU warning to consumers regarding the risks of buying Virtual Currencies (VCs)

The European Supervisory Authorities (ESAs) for securities (ESMA), banking (EBA), and insurance and pensions (EIOPA) issued today a pan-EU warning regarding the risks of buying Virtual Currencies (VCs).
The ESAs are concerned that an increasing number of consumers are buying VCs unaware of the risks involved. VCs such as Bitcoin, are subject to extreme price volatility and have shown clear signs of a pricing bubble and consumers buying VCs should be aware that there is a high risk that they will lose a large amount, or even all, of the money invested.