Australian regulator to watch and regulate cryptos

Australia Australia and Oceania Cryptocurrency Regulations

According to its corporate plan for 2018-19, the Australian Securities and Investments Commission (ASIC) aims to closely watch cryptocurrencies market and ICOs.

The regulator will place focus on utilization of cryptocurrencies throughout various industries. The document also states that ASIC will develop a policy for “applying the principles for regulating market infrastructure providers to crypto exchanges,” – a move which would mean the same level of scrutiny for cryptocurrencies as is the case with traditional stock exchanges and financial market operators.

“We will continue to focus on monitoring threats of harm from emerging products (e.g. ICOs and cryptocurrencies), cyber resilience, the adequate management of technological solutions by firms and markets, and misconduct that is facilitated by or through digital and/or cyber-based mechanisms.” Reads the document.

About the author

Maciek Klimowicz

Maciek Klimowicz

A seasoned writer and editor with 10 years of experience in a variety of print and online media. Recognizing the transformative potential of the blockchain technology, Maciek has now put his pen to work to explore the key issues of this fast-evolving sector. Contact him on [email protected].

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