Australian regulators rattle their saber as adoption takes a major leap: Law Decoded, Aug. 22–29
2022.08.30 07:38
Australian regulators rattle their saber as adoption takes a major leap: Law Decoded, Aug. 22–29
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 “digitally enabled misconducts” and to protect investors “from harms posed by crypto-assets.” Given the ASIC’s history of anti-crypto sentiments, such an announcement could be perceived as hostile, but at least it contains a promise to implement some regulatory framework that is still absent.
And it is hardly a coincidence that the announcement came only days after Australia’s new ruling government announced plans to move forward with regulation of the crypto sector by conducting a “token mapping” exercise by the end of the year.
