Coinspot.com.au "earn" program being temporarily suspended

In response to the evolving regulatory environment in Australia, we have made the difficult decision to temporarily suspend the Earn feature.

By ensuring that we remain compliant with regulators and governing bodies, this will allow CoinSpot to continue to provide its services to customers. CoinSpot are actively engaging with regulatory bodies to gain a wider depth of clarity and insight.

As a result, the CoinSpot Earn Program will be temporarily suspended effective 1st September 2023.

Obviously we always encourage "Not your keys, not your crypto" yada yada yada - but this is just another hurdle for the time-being for exchanges and their customers.

Hopefully, this results in both, more people taking custody of their assets and actually staking Crypto, or atleast result in centralized exchanges offering means for on-chain staking rather than 'lend/earn' programs.