MAS, CAD warn about digital-token investments

More than 100 police reports have been filed over investment schemes involving digital tokens or currencies.
More than 100 police reports have been filed over investment schemes involving digital tokens or currencies. PHOTO: REUTERS

The Commercial Affairs Department and the Monetary Authority of Singapore yesterday jointly issued a consumer advisory on the potential risks of investment schemes involving digital tokens or currencies.

These include initial coin (or token) offerings, which involve entrepreneurs raising money by selling virtual currencies.

The agencies advised members of the public to exercise due diligence in understanding the risks associated with such investments.

More than 100 police reports have been filed over investment schemes involving digital tokens or currencies.

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A version of this article appeared in the print edition of The Straits Times on August 11, 2017, with the headline 'Alert over digital-token investments'. Print Edition | Subscribe