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BNM deputy governor warns of 'high risks' in bitcoin

Mimi Sabreena 4:04:00 PM Informasi

KUALA LUMPUR (Dec 15): Bank Negara Malaysia (BNM) deputy governor Abdul Rasheed Ghaffour has likened the price movements of bitcoin to "bubbles" and "financial scams" of the past.

"It is really akin to many of the financial scams that we have seen. Anything that has high returns has high risks," he told a media roundtable on reporting obligations by digital currency exchanges to the central bank today.

However, Abdul Rasheed concedes that the present returns for early investors of bitcoin cannot be achieved through other investments.

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