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In a public statement this week, the Australian Securities and Investment Commission (ASIC) has issued a warning urging self-managed super funds (SMSFs) to consider the risks of cryptocurrency investments.
Regulator warns residents seeking to self-manage their retirement funds to be wary of investing in crypto-asset investments.
The Australian Securities and Investment Commission (ASIC) is warning consumers to watch out for an incr
<ul> <li><span>ASIC has noticed an increase in marketing recommending Australians switch from retail and industry superannuation funds to self-managed superannuation funds (SMSFs) so they can invest in a ‘high return’ portfolio</span></li> <li><span>SMSF trustees are being targeted to invest in crypto-assets (or cryptocurrencies)</span></li> <li><span>Superannuation is an attractive target for scammers</span></li> <li><span>Crypto-assets are a high r...
The corporate regulator has noticed an increase in marketing recommending Australians to switch to self-managed superannuation funds that invest in crypto, and has warned against some of the trappings.