Why the draft crypto legislation is good news for advisers
Cryptocurrency is currently largely unregulated as an investment class in Australia. This regulatory gap not only restricts access for millions of Australians who want to invest, but it also goes against the core value proposition of a financial adviser in providing holistic support to their clients.
Almost one in three Australians now hold cryptocurrency in their portfolios, but the vast majority are doing so without the benefit of professional advice as current regulations prohibit advisers from recommending or facilitating cryptocurrency investments. This leaves a significant portion of the population, especially those who rely on advisers for support, unable to participate in this growing asset class.
This blind spot is not…
