Slovenia’s Financial Stability Board issued a statement on Monday, warning that virtual currencies are not regulated and are not guaranteed by the central bank or any other state body, Reuters reported.
“Investors in virtual currencies ... have to take into consideration whether risks are in line with their personal preferences and investment goals,” the board said in a statement.
The financial watchdog also said that “initial coin offerings” (ICOs) are also not regulated and controlled, and added that investors in ICOs should invest “in the amount that would not leave them too exposed.”
The Financial Stability Board, which consists of representatives of various government bodies, is headed by the Bank of Slovenia Governor Bostjan Jazbec.
The board is responsible for implementing macro prudential policy that would protect the stability of Slovenia’s financial system.