The Dubai Financial Services Authority has issued a warning on ICOs (initial coin offerings) to investors.
The agency said:
“The DFSA wishes to highlight that these types of product offerings, and the systems and technology that support them, are complex. They have their own unique risks, which may not be easy to identify or understand; such risks may increase where offerings are made on a cross-border basis. These offerings should be regarded as high-risk investments.”
It’s unclear whether the DFSA will take additional steps to regulate any kind of related activity within the economic zone.
Dubai is the latest markets regulator to urge caution to prospective investors after Russia, Canada and the United States of America.
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