Original article by John Kehoe, Michael Read
The Australian Financial Review – Page: S3 : 23-Nov-21

Australian Securities & Investments Commission chairman Joe Longo has urged retail investors to be cautious when it comes to putting money into cryptocurrencies, as he doubts that many understand what they are investing in. He admitted to the 2021 Super & Wealth summit that ASIC has very little power to intervene in cryptocurrency assets as many are probably not financial products. Fidelity portfolio manager Kate Howitt told the summit that assessing the value of crypto is difficult because it is an asset that does not have a cash flow stream.

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