The Australian Tax office (ATO) has started to send warning letters to almost 18,000 Self Managed Super Funds (SMSFs), cautioning against hedging 90% of retirement funds in a single asset class, reported The Australian. SMSFs give an individual the power to choose how they want to invest his/her retirement funds and it currently boasts a market of $700 billion. Given the hype and popularity around cryptocurrencies recently, a majority of Australians use these SMSFs funds to invest in cryptocurrencies. Australia’s tax authorities took notice after it found that many individuals had invested a significant potion of ... (full story)