Australian crypto ownership warrants consumer protection, says regulator
The Hindu
The Australian Securities and Investments Commission (ASIC) survey of 1,053 retail investors found 44% reported holding cryptocurrency
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".
(Sign up to our Technology newsletter, Today’s Cache, for insights on emerging themes at the intersection of technology, business and policy. Click here to subscribe for free.)
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.
A quarter of the investors surveyed who held cryptocurrency said it was their only investment.
The data will add to pressure on Australia's new Labour government to emphasise consumer protection as it takes over a years-long study, started under the previous conservative government, on whether and how to regulate the digital assets.
It also legitimises widely circulated statistics about high rates of Australian cryptocurrency ownership which last year were dismissed as "implausible" by a top central bank official.
The survey also showed 41% of respondents went to a social media outlet for investment information, with 20% naming Alphabet Inc's Youtube and 11% naming Meta Platforms' Facebook.
India Justice Report 2025-26 reveals declining budget allocations for justice-related schemes, with underutilization of funds in recent years.
SEC seeks Indian assistance in investigating Adani Group for securities fraud and bribery scheme, ongoing efforts to serve complaint.
2025 TVS RONIN: Retro aesthetics meet cutting-edge technology with vibrant colors and enhanced safety features.
LIC introduces Smart Pension Plan with various annuity options, minimum purchase price of ₹1 lakh, and digital sales support.
Government ensures protection of exporters and people's interests, adapting to global changes, challenges, and increasing exports significantly.
Rupee closes at 86.96 against USD due to foreign fund outflows and rising Dollar index.
Uttar Pradesh CM Yogi Adityanath urges opposition to contribute positively in Budget Session for smooth legislative proceedings.
Tesla's job postings in Mumbai Suburban hint at potential entry into Indian market, following Elon Musk's visit with PM Modi.
Qatar ready to fast track negotiations for new investment agreement with India, focusing on trade diversification and technology.
India's aerospace sector is booming, with local firms like Hical and JJG Aero expanding rapidly to meet global demand.
Rupee weakens against dollar due to foreign fund outflows, negative equities trend; RBI support waning; trade deficit widens.
Samsung Electronics has decided to cancel 3.05 trillion won ($2.11 billion) worth of its own shares, the company said.
Concerns over stagnant income levels overshadowed optimism about reduced expenses among urban consumers