ATO urges trustees to follow tips to protect crypto investments
The ATO has recommended that SMSF members and trustees be informed and protected when investing in crypto assets.
The regulator says that with a growing number of SMSFs investing in crypto assets, there is an increased need for them to be aware of the potential risks, as it has seen trustees losing their crypto investments through theft, lost passwords, and impersonation schemes.
It has compiled a list of essential tips to help SMSF trustees safely navigate crypto investments to ensure they have enough protection to prevent any adverse events:
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· Name the wallet correctly: Make sure the SMSF’s crypto wallet is registered in…
