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Australian Minister Says Government Has 'No Issue' With Crypto Investment
Senator Jane Hume also said cryptocurrencies are "an asset class that will grow in importance."
An Australian federal minister says the government has no objection to people investing in crypto assets, though she also warned of the risks.
STORY CONTINUES BELOW
- As reported by the U.K.'s Daily Mail, Senator Jane Hume, the minister for financial services and the digital economy, said, "We take no issue with consumers investing in cryptocurrencies."
- She warned that investors should be aware of the risks, saying cryptocurrencies are "volatile, high-risk assets."
- Speaking at the Stockbrokers and Financial Advisers Association Conference in Sydney on Thursday, Hume noted that crypto assets are unregulated.
- "But like investment in any asset class, they are subject to Australian law, including our market conduct, know-your-client and tax laws. It is not a free pass," she said.
- Hume further stated that cryptocurrencies are "not a fad," adding that they are "an asset class that will grow in importance."
Also read: Australian Traders Favor Stocks and Crypto, TradingView Survey Shows
Daniel Palmer
Previously one of CoinDesk's longest-tenured contributors, and now one of our news editors, Daniel has authored over 750 stories for the site. When not writing or editing, he likes to make ceramics.
Daniel holds small amounts of BTC and ETH (See: Editorial Policy).
