Crypto is just finance with new plumbing: Australia’s ASIC fintech chief
Regulatory Perspective on Cryptocurrency
ASIC’s Rhys Bollen argues that cryptocurrency should not be treated as a separate asset class, but rather as an evolution of existing financial infrastructure. Just as financial systems transitioned from paper to electronic records, blockchain technology represents a modern upgrade in financial plumbing, not a fundamental shift in finance.
Regulatory Frameworks and Innovation
New regulatory frameworks are not required for blockchain, as the shift from paper to digital records in traditional finance did not necessitate new rules. ASIC emphasizes that regulation should support innovation rather than hinder it, aligning with its broader mission to foster financial market development.
Key Developments and Industry Engagement
- ASIC has confirmed regulatory approval for AUDD, an AUD-backed stablecoin, issued through an AFSL-licensed provider.
- The regulator has initiated a review and relaunch of its Innovation Hub to explore new ways of supporting financial market innovation.
- ASIC has warned that Australia risks becoming a “land of missed opportunity” if it fails to keep pace with global markets in tokenization and digital asset development.
Industry and Leadership
Former ASIC officials are now joining crypto platforms, such as Coinbase Australia, signaling a growing bridge between traditional financial regulation and emerging digital asset ecosystems.
來源：https://cointelegraph.com/news/crypto-shouldnt-treated-seperate-asset-class-asic-fintech-chief