The Australian financial regulator ASIC recently issued a sharp warning against investing in cryptocurrency-related assets when the provider of those assets is not licensed.
ASIC specifically focused on unlicensed entities with dubious credibility that offer cryptocurrencies and promise unrealistic or even guaranteed profits.
To quote them: “ASIC urges Australians to be wary of investing in crypto- asset- related financial products and services where the provider does not hold an AFS license or an AML” and they also added, “an entity is required to be licensed by the ASIC if they provide financial services (such as advising or dealing) concerning financial products offered in Australia.”
ASIC also warned the public that the cryptocurrency scams have increased by 20% compared to last year.
Now the question is whether they would follow the warnings with any concrete regulatory measures.

mlawson71 wrote: Mon Aug 23, 2021 10:15 pm ASIC also warned the public that the cryptocurrency scams have increased by 20% compared to last year.
Now the question is whether they would follow the warnings with any concrete regulatory measures.

man aussie ppl always get scammed.........

Crypto is a scam. It's great if you got in early but isn't that the same call for every investment? NFT's an excellent example of this fugazi.

https://www.theatlantic.com/ideas/archi ... ke/618488/

moey_dw wrote: Mon Aug 30, 2021 1:08 am man aussie ppl always get scammed.........

I can't tell if scams are really bad over there or the Aussies are just good at reporting them... Could be either one of these, could be both.