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Central Bank of the world continuous release of encrypted currency investment warning, encrypted currency has become the central bank public enemy?


Singapore's central bank, Singapore's Monetary Authority (MAS), has become the latest financial regulator to issue a warning about investing in cryptocurrencies.

MAS has issued a statement that cites recent "speculative" price increases in cryptocurrencies, advising the public to adopt "extremely cautious" attitudes when investing in digital currencies such as bitcoin.

MAS clarified that cryptocurrencies are "not a legal tender" in the country:


"The MAS recommends that the public be cautious and understand the significant risks they face when they choose to invest in cryptocurrencies."
MAS further pointed out that there is no regulatory body in Singapore that can safeguard the "security and soundness" of cryptocurrencies or encrypt monetary intermediaries.

However, the central bank added "law enforcement will shut down its business if it is found to be illegally used by cryptocurrencies."

Prior to this statement, that is, in August of this year, MAS issued an investor warning for ICO risks.

The warning said at the time:


"If consumers trade with entities that are not regulated by the MAS, that means giving up the protection afforded by MAS-regulated laws."
Other global financial institutions have also recently warned about Bitcoin investments. As Babbitt previously reported, Lars Rohde, governor of the Danish Central Bank, warned citizens to "stay away" from bitcoin and described investing in this cryptocurrency "deadly."

He said:


"You have to stay away from Bitcoin. It's fatal."
Central banks in other countries, including India and Russia, also issued a caged currency investment warning.
India's central bank Reserve Bank of India (RBI) earlier this month on the "user encryption currency, holders and traders," warned, RBI said they did not permit any encryption currency business operations in India.

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