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Bitcoin bubble? Singapore urges 'extreme caution' about cryptocurrencies

The city-state's central bank added that there is no regulatory safeguard for investments in cryptocurrencies and that it does not regulate them either

Reuters  |  SINGAPORE/LONDON 

Global financial regulators are beginning to warn the public against the risks of investing in a market that many feel is in a speculative bubble, with Singapore's central bank on Tuesday urging "extreme caution" about buying cryptocurrencies. The staggering growth of bitcoin and other decentralised digital currencies this year - with the market swelling from around $17 billion at the start of January to well over $600 billion now - has led to increasing concerns over what the fallout could be if the bubble were to suddenly burst. There have also been worries that ...

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First Published: Tue, December 19 2017. 21:47 IST
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