Spain Disclaimers
Dernière mise à jour : May 1, 2023
The value of investments and the return obtained thereon may vary significantly upwards and downwards and the entire amount invested may be lost.
Investments in early-stage projects involve a high level of risk, so it is necessary to properly understand their business model.
Crypto-assets within the scope of Circular 1/2022, of 10 January, of the National Stock Market Commission, on the advertising of crypto-assets presented as an investment product are not covered by customer protection mechanisms such as the Deposit Guarantee Fund or the Investor Guarantee Fund.
The prices of crypto-assets do not have mechanisms to ensure their correct formation, such as those present in the regulated securities markets.
Many crypto-assets may lack the liquidity needed to reverse an investment without incurring significant losses, as their circulation to both retail and professional investors can be very limited.
Distributed ledger technologies are still at an early stage of maturity, with many of these networks having been created relatively recently, so they may not be sufficiently tested and there may be significant flaws in their operation and security.
The transaction log in networks based on distributed ledger technologies operates through consensus protocols that may be susceptible to attacks that attempt to modify the transaction log and, in the event of successful attacks, there would be no alternative log to back the transactions up and thus the balances corresponding to the public keys, and all crypto-assets could be lost.
The anonymity facilities that crypto-assets can bring means that they are a target for cybercriminals, as in the case of stealing credentials or private keys, cybercriminals can transfer the crypto-assets to addresses that make them difficult or impossible to retrieve.
The custody of crypto-assets is a very important responsibility as they can be lost in their entirety in the event of theft or loss of the private keys. Gemini Digital Assets Limited is the entity providing the custodial services and it is established in Ireland and subject to the laws of Ireland.
Acceptance of crypto-assets as a medium of exchange is still very limited and there is no legal obligation to accept them.
When the service provider is not located in an EU country, the resolution of any dispute could be costly and fall outside the competence of the Spanish authorities.
Where the investor does not hold the crypto-assets, being in digital wallets of the service provider, and without access to the private keys of the wallets, this situation shall be indicated and the investor's rights to these crypto-assets shall be described.
La plateforme de finance crypto-native de confiance
Créez un compte Gemini gratuit en quelques minutes