Wall Street

Cryptos boom in Australia but many investors seek advice from YouTube. Could regulators step in?

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Euronews (English)

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”. The Australian Securities and Investments Commission (ASIC) survey of 1,053 retail investors, conducted last November, found 44 per cent reported holding cryptocurrency, making it the second most popular investment after Australian shares. A quarter of the investors surveyed who held cryptocurrency said it was their only investment. The data will ad…

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