10 Aug '17, 5am

Consumer Advisory on Investment Schemes Involving Digital Tokens (Including Virtual Currencies)

Consumer Advisory on Investment Schemes Involving Digital Tokens (Including Virtual Currencies) The CAD and the MAS advise consumers to be mindful of potential risks of digital token and virtual currency-related investment schemes. Singapore, 10 August 2017… The Commercial Affairs Department (CAD) and the Monetary Authority of Singapore (MAS) have observed the emergence of initial coin (or token) offerings (ICOs), and other investment schemes involving digital tokens, in Singapore. Members of the public are advised to exercise due diligence to understand the risks associated with ICOs and investment schemes involving digital tokens. What is a digital token? 2 A digital token is a cryptographically-secured representation of a token-holder’s rights to receive a benefit or perform specified functions. One particular type of digital token is virtual currency. Virtual currencie...

Full article: http://www.mas.gov.sg/News-and-Publications/Media-Release...

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