SG’s financial regulator warns retail investors against crypto investments

SG’s financial regulator warns retail investors against crypto investments

MAS' managing director Ravi Menon. Source: MAS LinkedIn page.

Monetary Authority of Singapore (MAS) has warned retail investors to avoid investing in cryptocurrencies, citing huge fluctuations in their prices.

On Tuesday, MAS’s managing director Ravi Menon said that cryptocurrencies “are not anchored on any economic fundamentals” and are “subject to sharp speculative swings”, adding that cryptocurrencies have performed poorly as a medium of exchange or a store of value.

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