‘Complex and volatile’: cryptocurrencies should be regulated by financial watchdogs, say consumer advocates

Consumer groups have called for strong financial regulation of cryptocurrency markets and investments in Australia, saying crypto assets are “complex,In a submission to the federal treasury’s consultation paper on cryptocurrency, consumer group Choice has urged the federal government to “strongly consider regulating all crypto assets under the existing financial product regulatory regime for better outcomes for consumers and the community”.

They should not be allowed at all since they can never replace money (as defined by economics). They should be illegal.

It might get dangerous should it get big enough because unlike the tulip bubble, bitcoin can be integrated with the financial system. Money is generally considered a store of wealth, a medium of exchange & an accounting unit. Bitcoin is none of those. Electronic tulips? B careful

Or. just use money

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‘Complex and volatile’: cryptocurrencies should be regulated by financial watchdogs, say consumer advocatesTreasury inquiry told ‘crypto is high-risk and unsophisticated investors are at high risk of losing significant funds’ Just wait till the next two rate hikes. I don't think the market have priced those in for cryptos. Bitcoin is leveling out though, so anyone who bought at the beginning is still way up. Everyone else lost their pants. It was time for regulations 4 years ago. Don't ban, regulate. Because a Ponzi scheme can be regulated. ¯\\_(ツ)_/¯
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Eurovision winners Kalush Orchestra auction off trophy for Ukrainian armyWinning bid was attributed to Whitebit, a cryptocurrency exchange, and came in the form of 500 ethereum Maybe they can sign up and fight. Off course, whet nobility- JakubKrupa .OskWars ej powiedz swoim Hiszpanom, żeby kupili szanelce ;-)
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