Swiss bank UBS says Bitcoin is ‘unsuitable’ for institutional investors
Switzerland bank UBS said in its latest note to investors that the increased crackdown on the crypto market by China makes investing in Bitcoin and other crypto-assets “unsuitable.” UBS says stiffer regulations are coming According to the note, the latest crackdown on digital assets by the Asian country has affected the value of the coins and players in the market. It also highlighted the fact that other countries like the United States and United Kingdom could also be planning to implement a set of stiffer regulations against the industry, thereby making investing in the space a huge risk for investors. The Swiss banking giant went on to state that regulators across the world have shown that “they can and will crackdown on crypto,” while advising investors to “stay clear and build their portfolio around less risky assets.” The firm concluded that “regulatory crackdowns could pop bubble-like crypto markets.” Governments around the world renew crackdown on crypto It is worth noting that China has renewed its hostilities towards crypto mining in recent times. The government of the country has enforced the closure of numerous crypto mining sites citing environmental concerns. Similarly, in the United States, Boston Federal Reserves president Eric Rosengren highlighted the fact Stablecoins were being