Coinbase to Tap Into Australia's Billion Dollar Pension Sector
Coinbase, a prominent global crypto currency exchange, plans to develop a service specifically for Australia ’s self-managed pensions sector. The integration of crypto currency into the pensions sector, particularly self-managed super funds [SMSFs], is not a recent development. Since March 2019, there has been a notable rise in the inclusion of crypto assets in Australia n SMSFs. The firm’s Asia-Pacific Managing Director, John O’Loghlen shed light on this development. The latest figures from Australia ’s Taxation Office indicate that nearly 1 billion Australia n dollars is now invested in crypto currencies within these funds. This is a significant jump from 197 Australia n dollars in December 2019. However, the volatility and risks associated with crypto currencies have resulted in considerable losses for some investors. A March 2023 report from Reuters highlighted that thousands of Australia ns with SMSFs investing in crypto currencies have collectively ...