Australian Regulators Shake Their Sabers as Adoption Takes Big Leap: Law Decoded, August 22-29
ASIC prepares to put crypto and DeFi firmly in its sights, while Australia's Northern Territory Racing Commission prepares to adopt cryptocurrencies in gambling.
Newsletter
Australia's financial regulator, the Securities and Investments Commission (ASIC), has pledged to put crypto assets and decentralized finance (DeFi) firmly in its sights over the next four years. The regulator intends to focus on "digital misconduct" and protect investors "from harm caused by crypto-assets". Given ASIC's history of anti-crypto sentiment, such an announcement might be perceived as hostile, but at least it contains the promise to implement a regulatory framework that is still lacking.
And it's no coincidence that the announcement came just days after Australia's new ruling government announced its intention to move forward with regulation of the crypto sector by leading a "token mapping" exercise by the end of the year.
At the same time, the Australian Northern Territory Racing Commission (NTRC) is preparing to adopt cryptocurrencies as a betting option. The NTRC has sent a private document to licensees, which seeks input and feedback on what the regulatory landscape might look like to get crypto betting off the ground in the...
ASIC prepares to put crypto and DeFi firmly in its sights, while Australia's Northern Territory Racing Commission prepares to adopt cryptocurrencies in gambling.
Newsletter
Australia's financial regulator, the Securities and Investments Commission (ASIC), has pledged to put crypto assets and decentralized finance (DeFi) firmly in its sights over the next four years. The regulator intends to focus on "digital misconduct" and protect investors "from harm caused by crypto-assets". Given ASIC's history of anti-crypto sentiment, such an announcement might be perceived as hostile, but at least it contains the promise to implement a regulatory framework that is still lacking.
And it's no coincidence that the announcement came just days after Australia's new ruling government announced its intention to move forward with regulation of the crypto sector by leading a "token mapping" exercise by the end of the year.
At the same time, the Australian Northern Territory Racing Commission (NTRC) is preparing to adopt cryptocurrencies as a betting option. The NTRC has sent a private document to licensees, which seeks input and feedback on what the regulatory landscape might look like to get crypto betting off the ground in the...
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