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.”