Taking into account the considerable fluctuations, including the plummeting of prices and closing of platforms for exchanging virtual currencies, witnessed during the last few months, the National Bank of Moldova reiterated its opinion about cryptocurrencies and the risks of investing in these. According to the Bank, there is a high risk of losing the sums invested in such currencies, IPN reports.

In a press release, the Bank says that as the authority that surveys licensed persons and entities that provide payment or currency exchange services, it discourages the trading in virtual currencies so as to avoid the involved risks, including of money laundering and the reputational risk.

“The press release of the National Bank of Moldova is designed to clarify the regulator’s position and to avoid the situation when the population is created a confused and incorrect perception that the use of virtual currencies takes place under the protection of a licensed issued by the central bank,” says the institution.

The entities that intend to provide cryptocurrency investment or trading services should make sure that these activities do not contain components related to the remit of the National Bank of Moldova.