Australia urgently warns crypto investors as Japan's top banks plan digital currency

Mark Battersby
clock • 2 min read

Australian Securities & Investments Commission (ASIC) chair Joe Longo warned it could only protect investors who buy "defined financial products" and that therefore crypto investors are "on their own". Speaking during the AFR's Super & Wealth Summit, Longo said the demand-driven rush of crypto has proven difficult for financial advisers to offer counselling to clients. "The demand-driven nature of the rush into crypto has thrown up some unique challenges. At present many, crypto-assets are probably not 'financial products', making it difficult for financial advisers to offer counsel,"...

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