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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."
Updated Sep 14, 2021, 12:58 p.m. Published May 20, 2021, 8:54 a.m.
An Australian federal minister says the government has no objection to people investing in crypto assets, though she also warned of the risks.
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- 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
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