Australia’s financial regulator, Australia's Securities and Investments Commission (ASIC) has pledged to put crypto assets and decentralized finance (DeFi) firmly in its sights over the next four years.
According to ASIC’s newly released “Corporate Plan” released on Tuesday, the financial regulator said it will be focusing on “digitally enabled misconducts” as “emerging technologies and products change our financial ecosystem” as part of its four-year strategic plan that stretches to 2026.
Joe Longo, chair of ASIC said the regulator would be focusing in particular on scams and crypto-assets.
“Our regulatory environment is changing and evolving — climate risk, our aging population, emerging data and digital technologies, and significant volatility in the crypto-assets market are all having a transformational impact.”
He noted that Scamwatch, a website that provides information to consumers and businesses about recognizing, avoiding, and reporting scams, received 4,783 reports of...
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