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UBS WM sees a “speculative bubble” in cryptocurrencies

UBS Wealth Management believes that the cryptocurrencies market – which has caught the attention of HNWIs in the region and which has made strong gains recently – has become a “speculative bubble”, and that cryptocurrencies are unlikely to evolve into mainstream currencies. “The need for companies and individuals to pay tax receipts in government-issued currency, and the potentially unlimited crypto-money…

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