Australian regulator issues warning about unlicensed crypto businesses

The Australian Securities and Investments Commission (ASIC) has warned about unlicensed crypto businesses, citing reports from local investors who suffered significant losses due to excessive leverage, platform outages, or unfair liquidations.

Summary

Based on the reports from Aussie investors, ASIC said that citizens have suffered significant losses due to “excessive leverage, platform outages, or unfair liquidations.”

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