Sudan's central bank says cryptocurrencies carry 'high risks,' report says

The Central Bank of Sudan has warned citizens against using cryptocurrencies given a multitude of "high risks," according to Sudan News Agency's report Sunday. These risks include: financial crimes, electronic piracy, the risk of losing their value and legal risks. Digital assets "are not classified as money or even private money and property in accordance with the legislation and regulations in force in the country, due to their lack of a material cover and the lack of issuance by authorized or accredited bodies that are legally bound by them," the report read. The central bank also pointed out that it recently noticed the "widespread" global spread of the phenomenon of promoting trading in cryptos through social media sites. Meanwhile, bitcoin (BTC-USD +6.2%) is jumping to $47.7K and ethereum (ETH-USD +6.7%) is drifting up to $3.38K. Last week, Malaysia's deputy finance minister bashed cryptos as a means of payment.