Australia's Cryptosphere is Being Reformed
Australia's chief financial regulator (ASIC) said it plans to develop stricter regulatory measures for Bitcoins and other cryptocurrency assets due to the growing number of scams in the crypto industry
The Commission does not set itself the task of complicating the work of the industry. It is more important to work with consumers, so that every crypto-investor feels protected from scammers and scams.
Also one of the tasks is to study new technologies, types of investment products to determine their characteristics and find a place in the Australian financial system.
There is a deep interest in new technologies in Australia. Therefore, it is not surprising that even against the background of reports of scammers and scams, ASIC does not prohibit cryptocurrencies.
The regulator has a very loyal attitude to the crypto industry. So much so that the Australian Stock Exchange (ASX) plans to replace the current CHESS payment system with DLT technology.