Australian authority temporarily suspends three Holon Investments crypto funds

The Australian Securities and Investment Commission (ASIC) temporarily suspended crypto asset manager Holon Investments from its retail services for three crypto funds, citing non-compliant target market determinations in an official statement. Holon Investments is suspended from offering or distributing bitcoin, ether and filecoin for 21 days — unless revoked earlier. The Australian financial regulator did not agree with Holon Investments opening up “very risky and speculative” assets to an audience of lower-certainty profiles. ASIC made this order “to protect retail investors from potentially investing in funds that may not be suitable for their financial objectives, situation or needs,” the statement reads.