Back in April, the Australian regulator working with securities and investments (ASIC), said it would watch the area of crypto and ICO, and for this reason, they are launching a new project that would research the way crypto assets are used in various areas.
New rules prove to be old ones
ASIC also intends to create a new policy for electronic exchanges that would deal with principles for managing the providers of market infrastructures to virtual trading platforms. This, experts believe, will put the sector of online exchanges on the same level of attention as conventional operators of the financial market.
Regulators tighten their hold of the industry
Australian online asset exchanges already work under the supervision of another regulator– the Australian Transactions and Reporting Analysis Center (AUSTRAC).
Bitcoin exchanges now have to be part of the AUSTRAC’s special register for online traders and also follow the compulsory anti-money laundering- and KYC requirements.
Darryn PollockDisclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.
Arman Shirinyan
Alex Dovbnya
Dan Burgin
Vladislav Sopov