The Australian Securities and Investments Commission (ASIC) released a new consultation paper while providing key updates to the digital assets guidance and related financial products. With this update, the regulator seeks to provide greater clarity on how the existing financial product definition applies to crypto, and can be part of the digital asset regulation. However, some crypto industry experts slammed the move saying that it will benefit only big businesses and push small players out of the market.
Australia’s ASIC Seeks Feedback on Crypto Guidance
Australia’s top financial regulator ASIC released Consultation Paper 381 (CP 381) earlier today outlining the updates to Information Sheet 225 (INFO 225) regarding (IETH) and related financial products. These products will provide clarity on how some of the traditional market rules are also applicable to digital assets.
ASIC Commissioner Alan Kirkland emphasized the importance of balancing responsible financial innovation with c
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