Australia's ASIC just dropped a bomb on degen traders 💣
Proposed: Extending retail leverage restrictions to crypto-settled derivatives
Why? The numbers are brutal:
• 68% of retail CFD clients got rekt in FY23-24
• A$458M ($325M) in combined losses
• A$73M burned on fees alone
This isn't just about crypto derivatives—it's across all CFD asset classes. But you know what this means for $BTC and $ETH perps trading in AU.
The leverage party might be ending for Aussie retail. ASIC sees the carnage and they're stepping in.
If you're trading with high leverage in Australia, watch this space. Regulatory tightening = less degen room = potential liquidity shifts.
Stay sharp. Don't be part of that 68%.
Proposed: Extending retail leverage restrictions to crypto-settled derivatives
Why? The numbers are brutal:
• 68% of retail CFD clients got rekt in FY23-24
• A$458M ($325M) in combined losses
• A$73M burned on fees alone
This isn't just about crypto derivatives—it's across all CFD asset classes. But you know what this means for $BTC and $ETH perps trading in AU.
The leverage party might be ending for Aussie retail. ASIC sees the carnage and they're stepping in.
If you're trading with high leverage in Australia, watch this space. Regulatory tightening = less degen room = potential liquidity shifts.
Stay sharp. Don't be part of that 68%.