The Australian Securities and Investments Commission (ASIC) will update their guidelines to better reflect the evolving cryptocurrency industry, John Price, one of their commissioners, revealed in his speech at a fintech conference in Sydney on April 26. Price further cautioned any company planning to conduct an ICO against thinking of it as a way to avoid government regulation, while also expressing the commission’s commitment to fostering innovation in the fintech sector without sacrificing consumer protections.

Prohibition Of Deceptive Conduct

Having released Information Sheet 225 last year, the commission felt the need to update it to better reflect the current market and to include more details on cryptocurrencies. The commission is very keen to clamp down on deceptive marketing tactics that have become worryingly popular.  Read more...