Significant investment by AMP Wealth Management: AMP’s investment of 27 million USD in Bitcoin (BTC) represents only 0.05% of its total assets, valued at approximately 57 billion USD, marking a pivotal moment for superannuation funds in Australia.
Skepticism from other funds: While AMP embraces cryptocurrencies, other superannuation funds like AustralianSuper remain cautious and have no plans to invest directly in digital currencies despite interest in blockchain technology.
Regulatory developments in Australia: In tandem with this investment, Australia is advancing regulatory measures to enhance consumer protection in the crypto market, with the Australian Securities and Investments Commission proposing recent guidelines.
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