The Monetary Authority of Singapore (MAS) agrees with Mr Ramamurthy Mahesh Kumar on the importance of educating the public on the risks of investing in crypto assets (Highlight risks, dangers of crypto assets to public, April 9).
In recent years, MAS has repeatedly cautioned the public on these risks.
We have highlighted through numerous consumer advisories that certain crypto assets, such as cryptocurrencies, have no intrinsic value and are subject to sharp price swings.
In Senior Minister Tharman Shanmugaratnam’s recent written response to Parliament on April 5, he reiterated that cryptocurrencies are highly risky as investment products and not suitable for retail investors.
Thus, consumers considering an investment in cryptocurrencies must give due regard to the higher risk of loss associated with such investments.
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