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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


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