SYDNEY: 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".
It also legitimises widely circulated statistics about high rates of Australian cryptocurrency ownership which last year were dismissed as"implausible" by a top central bank official. Just 13 per cent gained their information from a financial adviser or broker, according to the survey. "There are limited protections for crypto-asset investments given they have become increasingly mainstream and are heavily advertised and promoted. There is a strong case for regulation of crypto-assets to better protect investors."
Source: Digital Coin News (digitalcoinnews.net)
You mean financial advisors who recommend actively managed unit trust/ mutual funds that underperforms ETFs but still charge high sales and admin fees? Yup right I definitely want advice from them.
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