The Australian government’s assistant treasurer, Stephen Jones, has stated his intention to query the country’s securities regulator over its failure to warn investors about the risks of investing in the now-collapsed crypto investment firm Hyperverse. Jones stated that a “bunch” of Australians had invested in the scheme whose only source of income was the money coming from new investors.
ASIC Accused of Failing to Follow the Lead of Other Regulators
An Australian government official has questioned the country’s securities regulator over its failure to issue a consumer warning against the Hyperverse crypto investment scheme. Stephen Jones, the assistant treasurer in the Aussie government, said he plans to ask why the Australian Securities and Investments Commission (ASIC) failed to follow the lead of regulators in the UK, New Zealand, Canada, Germany, and Hungary.
The remarks by Australia’s assistant treasurer came just days after a media probe found that the CEO of Hyperve
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