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Showing 21 - 30 of 290 results for "Crypto"

ASIC fines fintech for misrepresenting crypto product

CASSANDRA BALDINI  |  WEDNESDAY, 27 SEP 2023
... fintech Bobbob has paid $53,280 to resolve infringement notices issued in response to misleading claims it made about a crypto-asset linked investment product. Over an eight-month period, a product known as the Savings Product was offered, attracting ...

ASIC takes legal action against crypto exchange

ANDREW MCKEAN  |  THURSDAY, 21 SEP 2023
ASIC has commenced civil penalty proceedings against Bit Trade, provider of crypto exchange Kraken, following alleged failures to adhere to design and distribution obligations for margin products offered to Australian customers. Since the introduction ...

AI to revolutionise investment industry: Research

CASSANDRA BALDINI  |  WEDNESDAY, 13 SEP 2023
... growth (27%). Meanwhile, investments such as whole fund services, not tied to a benchmark, came in second (17%), while crypto products and high-income products were next (11%). The survey clarified that increasing the availability of investment products ...

ASIC cracks down on CFDs, OTC derivatives

KARREN VERGARA  |  WEDNESDAY, 6 SEP 2023
... Australian financial services licensees that offer complex, high-risk OTC derivatives to retail clients in the form of CFDs, crypto derivatives, options, and other derivative arrangements. To date, ASIC has issued 10 interim stop orders and commenced ...

Crypto lender sentenced for false licence

CHLOE WALKER  |  FRIDAY, 18 AUG 2023
Melbourne-based cryptocurrency lender Helio Lending (Helio) has been sentenced to a non-conviction bond for falsely claiming that it held an Australian credit licence (ACL) when it did not. In 2019, Helio falsely represented on its website that it held ...

Advisers lacking PII sidestep AFCA rulings

KARREN VERGARA  |  FRIDAY, 28 JUL 2023
... Investment and advice complaints capture financial advice, managed funds, timeshare, stockbroking, horseracing syndicates, and crypto. "The relatively low number of complaints received by AFCA relating to advice is reflective of the maturity of the industry ...

ASIC acts against illegal investment scheme operator

JAMIE WILLIAMSON  |  WEDNESDAY, 26 JUL 2023
... to be 18-24 months. ASIC has also previously alleged that Hopkins misused investor funds, including converting them into crypto assets. ASIC is seeking to have The A Team Property Group wound up, alongside five of the investment schemes and all associated ...

ASIC cancels FTX Australia's licence

CASSANDRA BALDINI  |  WEDNESDAY, 19 JUL 2023
ASIC has cancelled the Australian financial services licence of embattled crypto company FTX. The regulator explained that until 12 July 2024 the company may provide limited financial services that relate to the termination of existing derivatives with ...

Monochrome files for first Bitcoin ETF in Australia

ANDREW MCKEAN  |  TUESDAY, 18 JUL 2023
... Automic, Ernst and Young, CF Benchmarks, and Gemini Trust. Last year, Monochrome received ASIC approval to operate spot-based crypto asset ETFs. At the time, Monochrome chief executive Jeff Yew commented: "The regulator's approval of this license ...

The boomer boom is over: AUSIEX

CHLOE WALKER  |  TUESDAY, 27 JUN 2023
... equity and private credit, and innovations in passive investing vehicles such as direct indexing through the introduction of crypto assets in portfolios. New technology will also be disruptive, particularly AI service enhancements. "We know that technology ...