cryptocurrencies should be regarded as highrisk investments
Last Updated : GMT 06:49:16
Arab Today, arab today
Arab Today, arab today
Last Updated : GMT 06:49:16
Arab Today, arab today

Cryptocurrencies should be regarded as high-risk investments

Arab Today, arab today

Arab Today, arab today Cryptocurrencies should be regarded as high-risk investments

Cryptocurrencies should be regarded as high-risk investments
Dubai - Arab Today

Dubai’s financial regulator on Wednesday cautioned potential investors the risks associated with online products involving cryptocurrencies, which it described as “high-risk investments.”
“The DFSA would like to make it clear that it does not currently regulate these types of product offerings or license firms in the Dubai International Financial Center, DIFC, to undertake such activities,” the Dubai Financial Services Authority said in a statement.
“Before engaging with any persons promoting such offerings in the DIFC, or making any financial contribution toward such offerings, the DFSA urges potential investors to exercise caution and undertake due diligence to understand the risks involved.”
The regulator said that these products usually involve the issuance of some form of virtual coin, token or other symbol of virtual currency in return for payment of a subscription price, and are offered to the public through fundraising events referred to as ‘Initial Coin Offering,’ ‘Initial Token Offering’ or ‘Token Sale’.
“The DFSA wishes to highlight that these types of product offerings, and the systems and technology that support them, are complex. They have their own unique risks, which may not be easy to identify or understand,” DFSA said.
“Such risks may increase where offerings are made on a cross-border basis. These offerings should be regarded as high-risk investments.”
Earlier this week Jamie Dimon, the chief executive of JPMorgan Chase & Co, described bitcoin as a ‘fraud’ and was ‘worse than tulips bulbs,’ referring to a famous market bubble from the 1600s.
“The currency isn’t going to work. You can’t have a business where people can invent a currency out of thin air and think that people who are buying it are really smart,” Dimon said at a banking investor conference in New York.

 

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

cryptocurrencies should be regarded as highrisk investments cryptocurrencies should be regarded as highrisk investments

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

cryptocurrencies should be regarded as highrisk investments cryptocurrencies should be regarded as highrisk investments

 



GMT 05:50 2017 Tuesday ,15 August

20 killed in Takhar funeral attack

GMT 04:51 2017 Thursday ,13 April

Huda Kattan among top 10 beauty influencers

GMT 09:44 2018 Saturday ,06 January

Aoun to deliver speech in Rome this afternoon

GMT 09:14 2017 Saturday ,30 December

London stocks end year on record high

GMT 11:47 2017 Monday ,11 December

France's rightwing shifts after Macron victory

GMT 04:49 2013 Monday ,27 May

Feng Shui living room concepts

GMT 19:45 2017 Wednesday ,18 January

The UAE Releases Global State of the Future Report

GMT 23:40 2017 Wednesday ,18 October

OIC condemns terrorist attack in Jeddah

GMT 16:41 2017 Saturday ,18 February

FBMA International Show Jumping Cup 2017 competition

GMT 17:43 2017 Tuesday ,14 February

Spanish activists taken to court over BDS activism

GMT 21:37 2017 Sunday ,02 July

Religious tourism lottery to be held on Monday

GMT 15:27 2017 Saturday ,24 June

US imposes ban on fresh Brazil beef imports

GMT 06:07 2017 Tuesday ,24 October

Air Force set to create new ISR unit with Global Hawk

GMT 03:49 2017 Thursday ,22 June

Dalai Lama says will visit Trump

GMT 03:52 2017 Sunday ,15 January

Drydocks World and GDRFA sign MoU partnership
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday