SINGAPORE (Reuters) - Singapore's central bank on Tuesday issued a warning against investment in cryptocurrencies, saying it considers the recent surge in their prices to be driven by speculation and that the risk of a sharp fall in prices is high.
"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 Monetary Authority of Singapore (MAS) said in a statement.
(Reporting by Masayuki Kitano; Editing by Richard Borsuk)
Disclaimer: No Business Standard Journalist was involved in creation of this content