Australian consumer group CHOICE outlined its crypto regulatory framework in a submission to the country’s Treasury calling for the new federal government to prioritize crypto in its financial services reforms.
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Australian consumer group CHOICE outlined its crypto regulatory framework in a submission to the country’s Treasury calling for the new federal government to prioritize crypto in its financial services reforms.
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The ACCC highlighted unapproved or endorsed “scam” ads featuring prominent Australian figures such as entrepreneur Dick Smith, TV host David Koch and former NSW premier Mike Baird in particular.
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The news comes only one day after billionaire Andrew “Twiggy” Forrest announced he would be mounting legal action against the social media giant.
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Bitcoin-related investment scams have already exceeded $18.5 million, an increase of 44% compared to the total loss of nearly $12.8 million in 2020.
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The Australian Competition & Consumer Commission (ACCC) has released a report on trends within the scam economy during 2017. The report identifies cryptocurrency related fraud to comprise less than 1% of the scam activity recorded in Australia last year. Also Read: Ross Ulbricht Continues to Fight for Freedom With Supreme Court Petition Cryptocurrency Scams Responsible for […]
The post Crypto Scams Comprise 0.6% of Fraud – Australian Consumer Watchdog appeared first on Bitcoin News.
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Australia’s financial regulator is cracking down on deceptive and misleading initial coin offerings (ICOs), citing “a serious breach of the Australian law.” As a result of the regulator’s inquiries, some issuers have halted their token sales or are modifying their structures. Also read: Yahoo! Japan Confirms Entrance Into the Crypto Space ASIC Takes Action Against ICOs […]
The post Australia Cracks Down on Misleading and Deceptive Initial Coin Offerings appeared first on Bitcoin News.
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The Australian Competition & Consumer Commission (ACCC) has revealed that it received more than 1,200 complaints relating to cryptocurrencies via its ‘Scamwatch’ portal during 2017. In light of the number of complaints, the Australian Securities and Investments Commission (ASIC) has issued a warning to potential investors outlining the risks associated with cryptocurrency investment. Also Read: Tesla […]
The post Australia’s Consumer Watchdog Received 1289 Crypto Complaints in 2017 appeared first on Bitcoin News.
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