Blockchain can transform capital markets: Chairman of Australian Regulator
Greg Medcraft, Chairman, Australian Securities and Investments Commission (ASIC) in a speech at Carnegie Mellon University underlined the importance of blockchain and how they can transform the capital market. In the speech, he cited four main points that he said, proved that blockchain has the capacity to help transform the capital market. Continuing in the same vein, the Chairman said that blockchain stands for efficiency and speed and has in it the potential to automate the financial system which will cut down the time duration that is needed for transactions. Secondly, he mentioned....
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An Australian regulator has warned residents seeking to self-manage their retirement funds to be wary of investing in crypto-asset investments that promise high returns in a short space of time. The regulator reiterates in the warning that crypto-assets are a high-risk and speculative investment. Scammer Tactics The Australian financial services regulator, the Australian Securities and Investments Commission (ASIC), has warned residents that self-manage their superannuation funds to be wary of scammers that are using the lure of quick and high returns offered by crypto assets to defraud....
Blockchain technology has the potential to "fundamentally change" our financial system by allowing disintermediation, reducing transaction costs and improving market access, according to the Australian Securities and Investment Commission (ASIC). But in order to get the full benefit of this technological advance, regulators should not be "standing in the way of innovation and development." In a keynote delivered at the Carnegie Mellon University, Greg Medcraft, Chairman at the ASIC, said that blockchain technology could positively transform capital markets by bringing more efficiency and....
The chairman of the Australian Securities & Investments Commission (ASIC) has encouraged regulators around the world to embrace blockchain innovation, the technology that underpins bitcoin. ASIC chairman Greg Medcraft has spoken about the potential and promise that blockchain technology holds, urging regulators around the world to “start thinking about” blockchain innovation, during a recent industry meeting at Madrid. Besides his role as the ASIC chairman, Medcraft is also the chairman of the International Organization of Securities Commissions (IOSCO). Suffice to say, the endorsement....
The Australian Securities and Investment Commission (ASIC) has released an information broadsheet on blockchain technology today. The sheet contains six questions that the regulator is likely to ask during its assessment for companies and startups considering the use of blockchain technology. As a government body, the ASIC is Australia’s financial services regulatory that also oversees financial markets and the country’s corporate infrastructure. Essentially, all Australian companies, financial markets and financial services such as investments, insurance, and credit fall are all regulated....
SEC Chairman Gary Gensler says that there is no need to treat the crypto market differently from other capital markets. Noting that “the SEC will serve as the cop on the beat,” Gensler encouraged crypto trading and lending platforms “to come in and talk to SEC staff.”
SEC Chairman Gensler on Crypto Regulation
The chairman of the U.S. Securities and Exchange Commission (SEC), Gary Gensler, authored an opinion piece published in the Wall Street Journal Friday on how crypto assets should be regulated. He described:
There’s no reason to treat....