Bitcoin
$47,968.50+1.12%
Ethereum
$3,619.35+6.24%
XRP
$1.11+1.98%
Cardano
$2.47+3.40%
Polkadot
$35.65-1.72%
Stellar
$0.335978+0.75%
Dogecoin
$0.243784+1.07%
Chainlink
$31.20+1.16%
Uniswap
$27.11+7.30%
Polygon
$1.47+8.44%
Litecoin
$191.94+5.37%
Bitcoin Cash
$642.68+0.58%
Algorand
$2.19+8.46%
Wrapped Bitcoin
$48,002.80+1.29%
Filecoin
$86.78+1.31%
Cosmos
$34.30+3.37%
The Graph
$0.891198+1.04%
Tron
$0.116251+0.63%
Ethereum Classic
$58.69+1.36%
Aave
$395.64+2.77%
Tezos
$6.84-5.18%
NEO
$51.75+0.67%
EOS
$5.07+4.03%
Monero
$267.16-0.21%
IOTA
$1.57-4.21%
BitTorrent
$0.004078+0.64%
Waves
$31.72+8.02%
Maker
$3,112.29+7.08%
Bitcoin SV
$157.68+1.86%
Dash
$213.74+3.95%
Decred
$142.85-1.29%
ICON
$2.09+1.72%
Decentraland
$0.858446+2.37%
NEM
$0.189331+3.24%
Zcash
$140.74+6.62%
NuCypher
$0.347300+2.90%
Qtum
$12.73+0.58%
Yearn Finance
$35,974.91-1.22%
Bitcoin Gold
$68.54+1.44%
OmiseGO
$8.81+0.85%
Basic Attention Token
$0.791677+0.57%
0x
$1.15+8.86%
Fetch.ai
$0.969598+10.52%
Ren
$1.06+18.68%
Paxos Standard
$1.00+0.10%
Bancor
$4.30+3.47%
Band Protocol
$9.78+1.10%
Siacoin
$0.019211+2.05%
Kava.io
$6.41+1.43%
Nano
$5.83+4.70%
Loopring
$0.486579+1.89%
Storj
$1.43+2.06%
Lisk
$3.72+2.58%
Civic
$0.529487+5.45%
Numeraire
$44.85-0.13%
Orchid
$0.389666+3.55%
PAX Gold
$1,784.96-1.16%
Augur
$26.42+0.01%
Aragon
$6.28+3.10%
Enzyme
$125.79-3.79%
district0x
$0.184332+2.67%
Kyber Network
$1.90+3.20%
SingularDTV
$0.001256-6.91%
Tether
$1.00-0.02%
USD Coin
$1.00-0.01%
Dai
$1.00+0.02%

UBS Says Regulatory Crackdown Could Pop 'Bubble-Like Crypto Markets': Report

Though it was looking to offer crypto to wealthier clients in May, the bank is now warning clients to avoid it altogether.

Jul 6, 2021 at 5:03 a.m. UTC
Updated Sep 14, 2021 at 1:21 p.m. UTC

Swiss financial giant UBS Group has raised concerns to its clients over the nature of the crypto markets and recent regulatory developments, Business Insider reported Monday.

In a note that circulated last week, UBS' global wealth management team said the latest bout with regulators in China had negatively impacted prices and operators.

"Regulators have demonstrated they can and will crack down on crypto," said UBS in its note. "We suggest investors stay clear and build their portfolio around less risky assets."

The denouncement from the bank runs contrary to prior reports UBS was in the early stages of exploring ways it could offer crypto to wealthier clients, though that was before China began its attacks against the crypto industry by ordering miners to close shop and banks to block bitcoin transactions.

"We've long warned that shifting investor sentiment or regulatory crackdowns could pop bubble-like crypto markets," said UBS.

DISCLOSURE

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.

Loading...