Online scams, particularly financial investment scams involving Bitcoin and other cryptocurrencies are on the rise, as Duxton Hill’s previous posts have noted. In a hurry to take advantage of an offer that it is “too good to miss”, it can be difficult for potential investors to distinguish between legitimate opportunities and fraudulent scams.
The regulation of cryptocurrency in Australia is currently being considered by The Senate Select Committee on Australia as a Technology and Financial Centre. The Senate Committee will be seeking to balance the need to provide legitimate cryptocurrency businesses with regulatory certainty and the need to provide consumers with greater protection against online cryptocurrency scams and access to professional advice.
In this context, Duxton Hill’s Special Counsel Aaron Lane spoke about the Senate inquiry in this television interview with ABC News.