Invest
Crypto player diversifies funding as market, regulation changes
An Australian digital currency exchange is shaking up its funding streams, as cryptocurrency comes down from a popular but volatile run in the last two years.

Crypto player diversifies funding as market, regulation changes
An Australian digital currency exchange is shaking up its funding streams, as cryptocurrency comes down from a popular but volatile run in the last two years.

Bit Trade has opened its doors to investors through a crowdfunding campaign. The exchange, which has had a total of 50,000 registrations since its inception in 2013, hopes to achieve $3 million through this investment funding.
According to a study by Accenture, $5.9 billion in digital currencies was traded by Australian investors last year.
ASX figures collected over the same period corresponded with this, with 65 per cent of Australian investors found to use online trading platforms over the past 12 months.
The appeal of cryptocurrencies seems to connect with younger generation investors most, with 71 per cent of digital currency traders in Australia under the age of 40 and the overall proportion of Australian investors between 18 to 24 increasing by 10 per cent over the past five years, largely attributed to the alternative asset class, according to data supplied by Bit Trade.
Regulatory radar
However, cryptocurrencies have been on the radar of the Australian Taxation Office of late, as many investors have professed confusion regarding their tax obligations on capital gains.
As we are in the midst of tax season, the ATO has announced it is cracking down on investors who deliberately avoid meeting these obligations and will not consider confusion around the issue as a suitable defence.
The ATO has promised to use its existing and standard processes to investigate ‘unexplained wealth’ that may be delivered through cryptocurrency investments, and said it will continue to review and update its guidance related to digital currencies going forward.
The Tax Office and related agencies have issued guidance on cryptocurrency, covering an individual's tax obligations. You can access them here:

Mutual funds
‘True to label’ warning again given to fund managers: ASIC
Consumers should be wary: Fund managers aren’t doing enough to ensure products are “true to label”, with a number of product names not aligning with underlying assets in those funds. ...Read more

Mutual funds
Move over, mainstream: ESG excels
Responsible investing is proving its worth in the investment game, beating out the total return of the S&P/ASX 300 over the last decade. ...Read more

Mutual funds
ASIC makes frozen funds easier to access
A new relief measure will enable investors suffering hardship to access their investment money even where managed funds have been “frozen” to maintain fund stability through the COVID-19 pandemic....Read more

Mutual funds
Is it time to put a food-style label on investment products?
Much like the food people eat, investors are being told they need to know what they are buying before purchasing exchange-traded products, as many are unaware of the ramifications if they don’t. ...Read more

Mutual funds
Why you should think about ESG investing this World Environment Day
Today marks World Environment Day, with experts using the occasion to flag how Aussies can benefit by investing in a way that helps the planet. ...Read more

Mutual funds
Is a model portfolio the way to go during a downturn?
The use of model portfolios – a type of managed account – can provide investors with a range of benefits during a downturn such as the COVID-19 crisis, an investment expert has touted. ...Read more

Mutual funds
Retail drag on REITs not all doom and gloom
In the world of REITs, COVID-19 is a human and economic crisis but not another GFC, according to an investment group. ...Read more

Mutual funds
Is opening the border the key to investment funds?
Australia could potentially support its start-up businesses by letting in 40-50 wealthier foreigners under the significant investor visa program, according to an industry expert. ...Read more

Mutual funds
‘True to label’ warning again given to fund managers: ASIC
Consumers should be wary: Fund managers aren’t doing enough to ensure products are “true to label”, with a number of product names not aligning with underlying assets in those funds. ...Read more

Mutual funds
Move over, mainstream: ESG excels
Responsible investing is proving its worth in the investment game, beating out the total return of the S&P/ASX 300 over the last decade. ...Read more

Mutual funds
ASIC makes frozen funds easier to access
A new relief measure will enable investors suffering hardship to access their investment money even where managed funds have been “frozen” to maintain fund stability through the COVID-19 pandemic....Read more

Mutual funds
Is it time to put a food-style label on investment products?
Much like the food people eat, investors are being told they need to know what they are buying before purchasing exchange-traded products, as many are unaware of the ramifications if they don’t. ...Read more

Mutual funds
Why you should think about ESG investing this World Environment Day
Today marks World Environment Day, with experts using the occasion to flag how Aussies can benefit by investing in a way that helps the planet. ...Read more

Mutual funds
Is a model portfolio the way to go during a downturn?
The use of model portfolios – a type of managed account – can provide investors with a range of benefits during a downturn such as the COVID-19 crisis, an investment expert has touted. ...Read more

Mutual funds
Retail drag on REITs not all doom and gloom
In the world of REITs, COVID-19 is a human and economic crisis but not another GFC, according to an investment group. ...Read more

Mutual funds
Is opening the border the key to investment funds?
Australia could potentially support its start-up businesses by letting in 40-50 wealthier foreigners under the significant investor visa program, according to an industry expert. ...Read more