Bitcoin warnings grow more strident as Singapore's central bank urges 'extreme caution'

FILE PHOTO: A copy of bitcoin standing on PC motherboard is seen in this illustration picture, October 26, 2017. REUTERS/Dado Ruvic/File Photo

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.

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