ASIC Sounds Alarm to Sceptical Crowd at Sydney Digital Asset Event
Top Stories Tamfitronics ASIC Commissioner, Alan Kirkland, flagged that most crypto-based businesses in Australia will require a financial services licence to avoid litigation in remarks made at the AFR’s Crypto and Digital Assets Summit on Monday.Australia’s digital assets industry figures at the summit reacted with alarm to the comments, concerned this litigious approach coupled with Australia’s web3 legislative vacuum will continue to stifle innovation and drive developers overseas.The government says it’s working to develop high quality legislation, though it has no timeline for when we might see it introduced into parliament.The alarm was triggered in Australia’s crypto industry, both literally and figuratively, after remarks from the Australian Securities and Investments Commission (ASIC) chief at the Australian Financial Review’s (AFR) Crypto and Digital Assets...
