Australian consumer group CHOICE outlined its crypto regulatory framework in a submission to the country’s Treasury calling for the new federal government to prioritize crypto in its financial services reforms.
Australian competition regulator takes Meta to court over fake crypto ads
The ACCC highlighted unapproved or endorsed “scam” ads featuring prominent Australian figures such as entrepreneur Dick Smith, TV host David Koch and former NSW premier Mike Baird in particular.
Aussie competition watchdog investigating Meta over crypto scam ads
The news comes only one day after billionaire Andrew “Twiggy” Forrest announced he would be mounting legal action against the social media giant.
Australians lost over $25 million to bogus crypto investments: Report
Bitcoin-related investment scams have already exceeded $18.5 million, an increase of 44% compared to the total losses of nearly $12.8 million in 2020.
Australian Crypto Scam Reports Rose Almost 200% in 2018
Australia saw a surge in reports of scams involving cryptocurrencies last year, according to the country’s consumer watchdog.
Australian Watchdog Received 1,200 Crypto Scam Complaints in 2017
The Australian Competition & Consumer Commission reportedly received over 1,200 complaints about cryptocurrency scams last year.