Regulators have cryptocurrencies in their sights

As digital assets go mainstream, investors should take heed of the dangers they bring

The once anarchic, anti- establishment crypto world is increasingly mingling with the sober sphere of tax planning and stodgy mainstream financial entities. PHOTO: BLOOMBERG
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(FINANCIAL TIMES) - When cryptocurrency prices surged last year, this created hordes of newly minted digital millionaires. Now we are seeing some real-world consequences.

This week Fidelity, the asset manager, revealed that its clients donated US$10 billion (S$13.4 billion) to its charitable arm last year, including US$331 million of crypto asset donations, mostly Bitcoin. This was a twelvefold increase on 2020.

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