“In principle, we believe that regulations should encourage consumers to provide information. It is virtually possible for consumers to … get advice that takes into account their personal circumstances. The hampered situation is an antithesis of that principle and is likely to be detrimental to those consumers, “he said in his submission.
“Members of FinTech Australia are asking us to regulate crypto assets finfluencers in the same way that ASICs are trying to regulate finfluencers in the traditional financial services sector.”
The comment touches on one of the many complex questions faced by financial authorities seeking to introduce a regulatory system in the crypto sector.
In another submission, the Center for Consumer Behavior Law emphasized growth In the crypto business that advertises in sports. It demanded a curb similar to live gambling ads for sports that are likely to be seen by children.
“As sports betting odds permeate sports programming almost completely, the current trend in cryptography is as an acceptable way for speculative crypto assets to be associated with sports teams and endanger money. It can permeate the spirit, “submitted by CEO Gerald Brody.
Choice also said crypto fraud cost consumers $ 129 million last year, and digital currency exchanges will have to reimburse consumers if they don’t properly prevent fraud on the platform. Claimed to be.
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