Central Bank of Ireland: Cryptocurrencies Not Right Now for Retail Investors

According to CoinDesk, Ireland’s central bank said in a report published Tuesday that it is “highly unlikely” that it will allow retail investors to gain exposure to crypto assets.

The bank cited “the specific risks associated with cryptoassets” and that “proper risk assessment can be difficult for retail investors without a high degree of expertise.”

According to the European Commission, the central bank's position applies to "collective investment funds in transferable securities", or UCITS, which are organisations that invest in securities and are regulated by the EU. In addition, it includes Alternative Investment Funds (AIFs), which are not regulated by the UCITS Directive, including hedge funds, private equity and real estate funds.

The Central Bank of Ireland stated that crypto assets are “high risk and speculative” but are “currently” considered suitable for wholesale and professional investors.