Australian Securities and Investment Commission ASIC has announced plans to strengthen surveillance and regulation on Cryptographic Exchange and ICO. ASIC, which serves as a monitoring organization for the Australian financial market, has prioritized the importance of the cryptographic sector. This will certainly reduce threats to all damages that can occur in the cryptography industry.
ASICs describe the potential for damages caused by the technology being driven by the increasing digital environment, financial services, and market structure changes. We will continue to focus on the potential threats to new financial products such as ICOs and cryptography, the management of technical solutions, and the monitoring of fraud that can be structurally facilitated in digital and cyberspace.
ASIC plans to closely monitor ICO in the short term. Of course, the goal is to ensure compliance with ICO regulations. It also mentions the report on one of the projects in 2019, including the monitoring of new financial products, such as ICOs, and improper conduct, as well as interventions in areas that could harm consumers or investors. The second area where ASIC will focus next year is the development of regulatory measures for companies that provide market infrastructure for the cryptographic exchange. For more information, please click here .