Singapore: Commercial Affairs Department and MAS Issue Warning on Digital Tokens, ICOs and Investment Schemes

On August 10, 2017 the Commercial Affairs Department (CAD) and the Monetary Authority of Singapore (MAS) issued a warning on the potential risks of digital token and virtual currency-related investment schemes, following the emergence of initial coin (or token) offerings (ICOs).

The MAS has issued a reminder to all members of the public to undertake due diligence to be aware of the risks related to ICOs and investment schemes involving digital tokens.

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