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Australian Financial Industry Labelled “Negligent” Over Crypto Ignorance

  • Olivia Long, CEO of SMSFAI, criticized the Australian financial advice industry for its ignorance of cryptocurrency, calling it negligent.
  • A digital asset industry professional was allegedly removed from a Financial Advice Association of Australia (FAAA) event, sparking outrage.
  • Research from CoreData shows that Australian financial advisers significantly underestimate how many of their clients have invested in cryptocurrency directly or via crypto ETFs.
  • The Australian financial advice industry is struggling to keep up with investors' embrace of cryptocurrency, indicating a disconnect between advisors and investors.

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