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All eyes are on Bitcoin<\/a> after ESMA \u2013 the European Securities & Markets Authority cautioned crypto investors on Tuesday.<\/p>\n Earlier this year, the European Union approved an extensive set of regulations for crypto assets that it\u2019s calling Markets in Crypto-Assets Regulation.<\/p>\n On Tuesday, however, ESMA warned crypto investors that it will likely take until December of 2024 for MiCA<\/a> to be fully implemented.<\/p>\n It is also worth mentioning here that a bunch of crypto firms will be able to remain in business without an EU license in states that grant them a transitional period of 18 months \u2013 which means full protections in these EU states will not be available until July 2026.<\/p>\n At writing, Bitcoin is trading well under the $29,000 level.<\/p>\n ESMA did, however, confirm on Tuesday that it\u2019s working closely with national regulators<\/a> and is motivating them to apply Markets in Crypto-Assets Regulations rules as soon as possible.<\/p>\n Even with full protection, though, it recommended investors to be cautious when investing in cryptocurrencies<\/a>. The EU watchdog\u2019s statement reads:<\/p>\n Even with implementation of MiCA, retail investors must be aware that there will be no such thing as a safe cryptoassets.<\/p>\n<\/blockquote>\n Currently, crypto assets are unregulated under the rules laid out by the European Securities and Markets Authority. Regulating the crypto market has become a priority for ESMA ever since the collapse of FTX<\/a> and Terra Luna<\/a>.<\/p>\nMiCA will take time to be implemented<\/h2>\n
ESMA says no cryptoassets is \u2018safe\u2019<\/h2>\n
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