Three Aussie Crypto Funds Halted as Regulator Cites Non-Compliance

In a media release dated Oct. 17 local time, the Australian Securities and Investments Commission (ASIC) said it has placed interim stop orders on three of Australian asset manager Holon's crypto funds, which separately aim to invest in Bitcoin, Ethereum and Filecoin. A target market determination is a document that describes who a product is appropriate for, based on likely needs, objectives, and financial situation as well as how the product can be distributed, according to Invest Smart. Holon has "not appropriately considered the features and risks of the funds in determining their target markets."