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."
May 20, 2021 at 8:54 a.m. UTCUpdated Sep 14, 2021 at 12:58 p.m. UTC
:format(webp)/cloudfront-us-east-1.images.arcpublishing.com/coindesk/QOD3LBXA6JBB3KDSN3YFJJNUWU.jpg)
/arc-photo-coindesk/arc2-prod/public/LXF2COBSKBCNHNRE3WTK2BZ7GE.png)
An Australian federal minister says the government has no objection to people investing in crypto assets, though she also warned of the risks.
- 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."
:format(webp)/downloads.coindesk.com/arc/failsafe/user/1x1.png)