Representations of cryptocurrencies in this illustration taken January 24, 2022. REUTERS/Dado Ruvic/Illustration/
SYDNEY, Aug 11 (Reuters) - Nearly half of Australian retail investors owned cryptocurrency in late 2021 and more got their information from YouTube videos than from financial advisers, the securities watchdog said on Thursday, calling the data a "strong case for regulation".
The Australian Securities and Investments Commission (ASIC) survey of 1,053 retail investors, conducted last November, found 44% reported holding cryptocurrency, making it the second most popular investment after Australian shares.
A quarter of the investors surveyed who held cryptocurrency said it was their only investment.
The data will add to pressure on Australia's new Labor government to emphasise consumer protection as it takes over a years-long study, started under the previous conservative government, on whether and how to regulate the digital assets.
It also legitimises widely circulated...
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