Growing adoption of crypto warrants consumer protection, says Australian regulator

Growing adoption of crypto warrants consumer protection, says Australian regulator

Photographer: Chris Ratcliffe/Bloomberg

Nearly half of Australian retail investors owned cryptocurrency in late 2021 and more got their information from YouTube videos than from financial advisers, the securities watchdog said on Thursday, calling the data a “strong case for regulation”.

The Australian Securities and Investments Commission (ASIC) survey of 1,053 retail investors, conducted last November, found 44% reported holding cryptocurrency, making it the second most popular investment after Australian shares.

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