'Do not rely on social media ads or online contact from someone promoting an investment opportunity,' warns the Australian Securities and Investments Commission. investments cryptoassets
Australian Regulator Warns Against Investing Retirement Funds in 'High Risk' Crypto-Assets
The watchdog added that superannuation fund members that wish to “transfer superannuation [retirement savings] out of a regulated fund into a self-managed superannuation fund ” should seek advice from a licensed adviser before making the switch.issued on January 17, 2022, the ASIC also details some of the tactics used by scammers that Australians need to be on the lookout for. The warning states:
For Australians that decide to personally manage their retirement funds, the watchdog reminds them of their responsibilities as well as the tax consequences that arise if they decide to invest in cryptocurrencies. The warning also emphasizes that only licensed financial advisors are better placed to assist Australians seeking to set up an SMSF.Meanwhile, the warning revealed that the ASIC had made the decision to shut down an unlicensed services business.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Australia's Financial Watchdog Warns Against Investing Retirement Savings into CryptoAustralians with self-managed super funds should be wary of cryptocurrency ads, says the country's financial watchdog
Read more »
Pakistani Bank Asks Customers to Avoid Conducting Crypto Transactions – Regulation Bitcoin NewsBank Alfalah in Pakistan has reportedly asked customers to avoid carrying out cryptocurrency transactions using its banking channels. crypto
Read more »
25% of US Adults Plan to Start Investing in Crypto, Survey Shows – Featured Bitcoin NewsA U.S. consumer survey shows that 25% of respondents who currently do not invest in cryptocurrency plan to start investing in crypto.
Read more »
BTC/USD Forex Signal: Bitcoin at Risk of Further WeaknessThe BTC/USD pair remained under pressure even as the closely watched North American Bitcoin Conference kicked off in Miami.
Read more »
Ethereum, Dogecoin and Shiba Inu Chipping Away at Bitcoin's Crypto Payment Market Share$ETH, $LTC, $SHIB, $DOGE are among the most popular cryptocurrencies with BitPay clients
Read more »
CoinDesk on TikTokHow do you make money off a short squeeze with crypto? hdktweets breaks it down. Comment on TikTok:
Read more »