The Australian Minister of Financial Services said cryptocurrencies are part of individuals’ personal preferences and responsibilities. The message stands in stark contrast to the positions taken by other governments and regulators.
Australian Financial Services Minister Jane Hume said cryptocurrencies will grow as an asset class and the Australian government will not stand in the way of cryptocurrency traders. At the Securities Exchanges and Financial Advisors Association’s annual conference earlier this week, Hume said:
Amid tighter regulatory calls for the cryptocurrency industry, Hume also made a statement about the dubious financial advice available on social media platforms such as TikTok.
Hume added that professional investors may be disappointed with such advice, “at some point we need to let people make their own decisions, it’s about personal responsibility and common sense.” Hume’s comments stand in stark contrast to the harsher attitudes adopted by other governments on crypto trading.