Australia's ASIC Proposes 10-Year Extension of CFD Safeguards as Retail Losses Top $458M
- —68% of retail CFD traders lost money in the 2023–24 financial year
- —Combined net losses exceeded $458 million, including $73 million in fees
- —85% of clients trading CFDs over options recorded losses
- —ASIC proposes replacing the term "cryptoasset" with "digital asset" in the order
Why it matters: The rules will cover crypto derivatives in Australia, making leverage limits and licensing permanent — cutting retail risk but raising compliance costs for providers.
Source: The Crypto Times