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     6 years ago (edited)

    @bsfmalaysia,

    Australia, like many other countries, "tolerates" the crypto space; but heretofore, has no official regulatory mechanisms in place for the protection of consumers - a la SEC style oversight that's found in the legacy markets.

    Consequently, there is no set of minimum standards for entry, "best practices" policies for current entities, recourse for scammed customers, or penalties for bad actors, and so on.

    It's "caveat emptor" for those entering the cryptocurrency space.

    Because of this, risk-averse neophyte investors with limited capital as well as institutional and accredited investors possessing very deep pockets, are shy to enter the cryptocurrency space; hence, retarding mass adoption.

    But now, the sheer growth and predicted market cap of cryptos is forcing more and more countries to consider cryptocurrency markets as something bigger than "toy geek money for the outliers of society (aka anarchists, criminals, etc.).

    Thank you for visiting and commenting.

    Namaste, JaiChai

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