ASIC smooths path for crypto ETFs

ASIC smooths path for crypto ETFs

ASIC has released guidance for product issuers on crypto exchange traded products, with the industry broadly supporting the regulator’s stance.

ASIC’s good practice guide includes admission and monitoring standards, custody of crypto-assets, pricing methodologies, disclosure and risk management best practice.

The regulator has also introduced a new ‘crypto-asset’ category in the licensing application for responsible entities.

“Crypto-assets have unique characteristics and risks that must be considered by product issuers and market operators in meeting their existing regulatory obligations,” ASIC commissioner Cathie Armour said.

“The good practices we published provide practical examples of how these obligations may be met, in a way that maintains investor protections and Australia’s fair, orderly and transparent markets.”

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Source: ASIC smooths path for crypto ETFs | Financial Standard