Australian watchdog to apply market rules to crypto exchanges

posted 5 months ago
A top Australian financial regulator has indicated it will take a new approach when regulating cryptocurrency exchanges, as well as tighten scrutiny of initial coin offerings (ICOs). In its a corporate plan for 2018–2022, released today, the Australian Securities and Investments Commission (ASIC) outlined its areas of focus, which is to continue "monitoring threats of harm from emerging products" such as ICOs and cryptocurrencies.

Further, for 2018 and 2019, ASIC said it is developing a new framework that will apply "the principles for regulating market infrastructure providers to crypto exchanges" and will intervene where "there is poor behavior and potential harm to consumers and investors."
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