New Regulation Rules For ICO And Crypto-Assets In Australia By ASIC
New Regulation Rules For ICO And Crypto-Assets are published by The Australian Securities and Investment Commission (ASIC) reported from their official website on 30 May 2019.
The new guidelines are basically about the Initial coin offering (ICO) through bitcoin and other cryptocurrencies that includes all information regarding coin issuers, miners, exchanges, wallets, advisors and much more that related to cryptocurrency and ICO.
For Crypto-asset exchange and trading platforms
If the platform deals in crypto-assets that are financial products, then the platform is operating a market and a range of Australian laws apply, including the requirement to hold an Australian market license.
For Wallet providers and custody service providers
If tokens stored by your business fall within the definition of a ‘financial product’, you need to ensure you hold the appropriate custodial and depository authorizations.
The ASIC also defined the Know Your Customer (KYC) and Anti Money laundering (AML) schemes that applied to the cryptocurrencies.
Last week, The Australian entrepreneur Craig Wright has filed Copyright registration for Bitcoin white paper.
