Andrew Bragg says businesses promote themselves as regulated – despite there being no regulation of cryptocurrency in Australia
Australia’s financial services regulator was queried multiple times about a cryptocurrency exchange’s use of a financial services licence that does not cover cryptocurrency.
This week Guardian Australia reported that failed cryptocurrency exchange FTX obtained an Australian Financial Services Licence (AFSL) through the takeover of a company that already held the licence – and the Australian Securities and Investment Commission (Asic) did not conduct any checks to see if FTX was fit and proper to hold the licence.
Read Full story: https://www.theguardian.com/technology/cryptocurrencies
