Australian consumer advocacy group CHOICE has called on the federal government to provide better protection for crypto investors while submitting a proposed regulatory framework for cryptocurrency exchanges operating in the country.
The regulatory framework was submitted in response to the federal Treasury's consultation paper for “crypto asset secondary service providers” (CASSPs) defined as firms providing custodial crypto wallets and exchange services. CHOICE commented:
“As it stands, enforceable protections in the unregulated cryptocurrency market are somewhere between negligible and non-existent.”
Outlining four main areas in its framework, the group called for a single definition of crypto for better regulation, a license for exchanges in line with current financial licensing, and for them to be bound by consumer protection laws to prohibit things like misleading advertising.
Finally, CHOICE said crypto exchanges need to enact measures for preventing fraudulent payments and...
Your content is great. However, if any of the content contained herein violates any rights of yours, including those of copyright, please contact us immediately by e-mail at media[@]kissrpr.com.
INN caught up with cryptocurrency investment expert Dan Hoover to review the current landscape and where the market may be heading. The cryptocurrency investment marketplace has gone through severa...