THELOGICALINDIAN - Switzerlands better coffer UBS has brash investors to break bright of cryptocurrencies and body their portfolio about beneath chancy assets The UBS analysts warned that Regulators accept approved they can and will able bottomward on crypto
UBS’ Crypto Advice and Warning
The all-around abundance administration aggregation at UBS warned in a agenda appear aftermost anniversary that regulators worldwide, decidedly the U.S. and the U.K., will appoint tougher cryptocurrency regulations. Citing that “China’s latest crackdown — extending to miners, banks, e-payment networks, and amusing media — aching crypto prices and operators,” the UBS analysts wrote:
“We’ve continued warned that alive broker affect or authoritative crackdowns could pop bubble-like crypto markets,” the analysts added. “We anticipate investors should abstain crypto speculation, and accede risk-adjusted allotment afore affairs another assets.”
The coffer acicular out that a cardinal of regulators common accept amorphous abbreviating their blank of the crypto market. Recently, China has been cracking down on bitcoin mining and payments. Canada’s regulator has sent notices to crypto exchanges and the regulators in Japan, the U.K., Cayman Islands, and Thailand accept targeted all-around crypto barter Binance.
The U.K. has imposed bound allotment requirements on crypto exchanges, causing 64 firms to withdraw their applications to register. In South Korea, best baby exchanges are at accident of accepting to shut down operations due to austere authoritative and cyberbanking requirements.
The UBS analysts added described: “Crypto trading practices, such as extending 50x or 100x leverage, arise fundamentally at allowance with boilerplate accounts regulation.” They warned:
The bank, however, reportedly recognizes that some audience appetite acknowledgment to cryptocurrency, decidedly bitcoin, and is rumored to be because alms crypto casework to affluent clients. A growing cardinal of advance banks are already accomplishing so, including Goldman Sachs, Morgan Stanley, Citigroup, Standard Chartered, and DBS.
What do you anticipate about UBS’ crypto admonition and warning? Let us apperceive in the comments area below.
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