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Swiss Financial Giant ‘UBS Group’ Raises Concerns Over Crypto Markets.

Leading Swiss financial giant UBS Group has raised concerns to its clients over the well-being of the crypto markets and up-to-date regulatory developments, Business Insider reported Monday.

Within an official circulated note earlier last week, UBS’ global wealth management team outlined that the newest bout with regulators in China had negatively impacted prices and operators.

“Regulators have demonstrated that they will clamp down on cryptocurrencies,” added UBS within 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 within the early stages of exploring ways it could offer crypto to wealthier clients, though that was much earlier China began its attacks against the crypto ecosystem by ordering miners to shut down & banks to halt bitcoin related transactions.

“We’ve long warned that shifting investor sentiment or regulatory crackdowns might pop bubble-like cryptocurrency markets,” outlined UBS.

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