Australian Financial Regulator Warns Against Investing Retirement Savings in Cryptocurrencies

Australia’s top financial regulator and the Securities and Investments Commission have warned Australians who manage their superannuation against dabbling in cryptocurrencies. The agency described cryptocurrencies as a "speculative investment" following its recent warning about the rise of cryptocurrency-related scams. ASIC has registered an uptick in marketing campaigns targeting SMSF trustees on social media, urging investors to exercise caution. Don't rely on advertisements on social media or online connections where someone promotes an 'investment opportunity'.