Michael Bacina, a partner at law firm Piper Alderman said the alarm around such financial products had already been sounded in the past few months. “Crypto-products offering a percentage return are on a high risk of being seen to be a financial investment or managed investment scheme, even if they are structured as a loan arrangement,” he said.
Crypto Investing Risk Warning
Crypto assets are highly volatile. Your capital is at risk.
Don’t invest unless you’re prepared to lose all the money you invest.
This is a high-risk investment, and you should not expect to be protected if something goes wrong.