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Description

Announced ASIC Corporate Plan including monitoring of crypto-assets investments

On 22 August 2022, the Australia's Securities and Investments Commission (ASIC) published its Corporate Plan for the years 2022 - 2026. The Corporate Plan took into consideration the political, technological, and social issues pressing consumers and investors today and developed a subsequent plan meant to protect consumers. A priority set out in the Plan is to supervise and analyze the Product Disclosure Statements of crypto assets providers. In addition, ASI aims to implement a regulatory model for crypto-asset trading and supervise the exchanges and investments in crypto-assets. Additionally, ASIC wishes to promote proactive regulation creation to support a more stable financial market. Finally, ASIC wants to reduce technology risks associated with financial investments by strengthening cyber standards and investigating digital crimes.

Original source

Scope

Policy Area
Other operating condition
Policy Instrument
Consumer protection regulation
Regulated Economic Activity
digital payment provider (incl. cryptocurrencies)
Implementation Level
national
Government Branch
executive
Government Body
other regulatory body

Complete timeline of this policy change

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2022-08-22
under deliberation

On 22 August 2022, the Australia's Securities and Investments Commission (ASIC) published its Corpo…