Monetary Authority of Singapore: Cryptocurrency-based venture capital products are at high risk

According to Bloomberg News, Singapore has once again warned the public about the risks involved in trading cryptocurrencies like Bitcoin. Tharman Shanmugaratnam, head of the Monetary Authority of Singapore, said the value of cryptocurrencies is volatile because they typically do not affect the underlying economy. They are very risky as a capital product and are never suitable for the trader. Traders should be extra careful when trading cryptocurrencies.