‘Extreme Caution’ on Bitcoin Investment advised by the MAS

Asia Singapore

A statement released by The Monetary Authority of Singapore (MAS) warns potential investors of risks associated with cryptocurrencies, advising “extreme caution” when considering such investments.

The authority specified that nor it nor any other legal body in Singapore regulates digital currencies which are not a legal tender.

“The Monetary Authority of Singapore advises the public to act with extreme caution and understand the significant risks they take on if they choose to invest in cryptocurrencies,” the statement reads.

About the author

Maciek Klimowicz

Maciek Klimowicz

A seasoned writer and editor with 10 years of experience in a variety of print and online media. Recognizing the transformative potential of the blockchain technology, Maciek has now put his pen to work to explore the key issues of this fast-evolving sector. Contact him on [email protected].

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