AustraliaSome investment platforms operating in securitiesas well as cryptocurrenciesIt allows them to buy and sell.
Australian Financial ReviewThe country’s financial regulator has warned about its business model, according to a report by Australian Securities and Investment Commission( ASIC), warns investors to think carefully before using the model where brokers can add risk from multiple asset classes.
Syfe and eToro Provide One-Stop Crypto Service
Wealth management platform headquartered in Singapore page allows investing in traditional securities and cryptocurrencies at the same time. Entered the Australian market last year page became one of the companies that adopted the “one-stop” business strategy. The project platform 2,000reported that it added more than 1,000 stocks and exchange-traded funds.
Tim Wallace, Managing Director of Syfe Australia, said in a statement on the subject: “We have developed a solution that aims to eliminate the noise, complexity and options that exist in the Australian market.”
With this eToroin, ASXbegan secretly testing a regional exchange product through his company. Australian Stock Exchange( ASX ) is Australia’s primary stock exchange. As such, the multi-asset brokerage has enabled investors to trade both cryptocurrencies and traditional stocks through the same platform.
ASICexpanding crypto regulations 2023stated that it is one of the main implementation priorities for
The regulatory commission recently emphasized that it will address abuses, issues that threaten market integrity, and consumer harm in industries including financial services, retail and crypto assets. Australian financial regulators will impose stricter rules on the cryptocurrency industry 2022 They explained in . That is why businesses in the country Australian Transaction Reports and Analysis Center‘what ( AUSTRAC)There is a requirement to register.
These businesses are also required to comply with anti-money laundering and anti-terrorist financing regulations.
