MAS advises 'extreme caution' in investing in cyptocurrencies

SINGAPORE (Dec 19): The Monetary Authority of Singapore (MAS) on Tuesday cautioned against investments in cryptocurrencies such as Bitcoin amid a recent surge in their prices.

The central bank says the recent escalation in prices of cryptocurrencies is considered to be driven by speculation, and advised investors to “act with extreme caution and understand the significant risks they take on if they choose to invest in cryptocurrencies.”

“The risk of a sharp reduction in prices is high. Investors in cryptocurrencies should be aware that they run the risk of losing all their capital,” MAS says in a statement.

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