The Central Bank of Singapore has issued recommendations aimed at limiting cryptocurrency advertising in public places.

The guidelines state that advertising for cryptocurrencies can only be placed on websites, applications and social networks of creators and service providers, but not in public places.

The recommendations apply to all companies that provide any services that are in any way related to cryptocurrency.

The regulator added that cryptocurrencies are a high-risk investment vehicle that is not suitable for the general public and service providers should in no case underestimate the level of riskiness of the instrument.