Bitcoin Ethereum and FileCoin: stop in Australia

Bitcoin, Ethereum and FileCoin: stop in Australia

17 October 2022

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Bitcoin, Ethereum and FileCoin was stopped on Australia’s market due to “non-compliant” Target Market Determinations. 

The Holon Bitcoin Fund, Holon Ethereum Fund and the Holon FileCoin Fund are all managed investment schemes that focus on exposure of the price to the equivalent crypto. They work by investors sharing money who in return receive a support in that scheme. 

A Target Market Determination describes product’s target and market, conditions around the product can be distributed to users, the events or circumstances where developers may need to review the Target Market Determination for a financial product. 

The Australian Securities and Investments Commission (ASIC) observed that investors in cryptocurrency are subject to a big negative returns. 

Additionally, the PDS - Product Disclosure Statement - highlights the fact that they may will have a total loss of value. 

SOURCE: CoinTelegraph

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