Singapore issues cryptocurrency warning

Singapore’s central bank has urged the public to act with “extreme caution” if buying cryptocurrencies.

The Monetary Authority of Singapore (MAS) has issued an official statement, advising "the public to act with extreme caution and understand the significant risks they take on if they choose to invest in cryptocurrencies".

"MAS is concerned that members of the public may be attracted to invest in cryptocurrencies, such as bitcoin, due to the recent escalation in their prices," the statement said.

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