Australia Halts Crypto Funds Managed by Gemini

CoinDesk reports that Australia’s financial services and markets regulator has suspended asset manager Holon Investments from offering three crypto funds to retail investors for 21 days.

The regulator took the decision was due to non-compliant target market determinations (TMD) by Holon Investments, according to the report.

The regulator believes Holon’s crypto funds are not suited to the wide target market defined in their TMDs.

The suspension applies to Holon’s bitcoin, ethereum, and filecoin funds. All three funds are managed by the crypto exchange Gemini.

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