The Australian Securities and Investments Commission (ASIC) has called on the Australian people to take precautions and equip themselves with knowledge of the risks associated with crypto asset investments.
Speaking at a Governance Institute conference on Sept. 12, ASIC commissioner Sean Hughes said the stock exchange regulator wanted new investors to be aware that investing in crypto assets was a form of extreme risk-taking.
“We want to be very clear and unambiguous in our messages to consumers entering the market,” he said.
“We think that crypto assets are highly volatile, inherently risky and complex.”
The commissioner also said that the ASIC would work with domestic and international agencies to disrupt and prevent harmful crypto products from targeting Australians….