Central Bank warns of ‘too good to be true’ cryptocurrency investments

'While people may be attracted to these investments by the high returns advertised, the reality is that they carry significant risk,' bank's director general of financial conduct says

The warning is part of a European-wide campaign by the supervisory authorities in relation to cryptocurrency.

The Central Bank has warned consumers about the risks of investing in so-called crypto assets — including digital currencies — saying their “highly risky” and “speculative” nature means they “may not be suitable for retail customers”.

The warning is part of a European-wide campaign by the European supervisory authorities, including the European Banking Authority and the European Securities and Markets Authority.