Can I SMSF Invest in Cryptocurrency?
Yes, SMSF can invest in cryptocurrency assets. However, there are requirements the SMSF must abide by when investing in cryptocurrency assets. The cryptocurrency investment must be outlined as allowed in the fund’s trust deed and be maintained in accordance with the investment strategy created by the fund’s members or trustees.
Cryptocurrency investments must also comply with the regulatory requirements that apply to other types of investments as defined by the Superannuation Industry Supervision Act and the Superannuation Industry Supervision Regulations.
SMSF can be difficult to create and maintain for members who are inexperienced in dealing with self-managed funds. For this reason, it is highly recommended to work with lending specialists who offer services for SMSF. However, it can be tricky to find SMSF lenders.
A large majority of Australian banks and lenders no longer offer these services due to the high-risk nature of self-managed super funds. There are currently few lenders that offer SMSF services, including the following:
- Mortgage House
- Liberty Financial
- Switzer Home Loans
- La Trobe Financial
- Reduce Home Loans
Investing in the professional opinions and assistance lending specialists can provide is a great way to verify the SMSF and desired investment assets are kept in compliance with the laws and regulations in place. If an SMSF does not comply with the laws and regulations in place, the fund’s members will be completely responsible for handling the financial and legal consequences on their own.
Reach out to the Mortgage House professional lending specialists today for personalized assistance and advice throughout the SMSF creation, set-up, and investment processes.