ASIC chair Longo calls the growing demand for crypto ‘impossible to ignore’
He told an audience that the rise of blockchain currencies has been “nothing short of phenomenal.” Joe Longo, chair of the Australian Securities and Investments Commission, or ASIC, spoke at the Australian Financial Review Super and Wealth Summit on Monday at the Fullerton Hotel in Sydney. The rise of crypto, he said, has been “nothing short of phenomenal, and impossible to ignore.” As a corporate and markets regulator, Longo admitted to a certain fascination with decentralized autonomous organizations, or DAOs. He said that they present certain challenges for national regulators like....
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The chair of Australia’s market regulator has warned that “action will be taken” on financial product issuers who promote risky products to a wide consumer base. Australia’s financial services and markets regulator has issued another glaring warning towards issuers of crypto-based financial products, particularly those inappropriately marketing high-risk products.Joe Longo, chair of the Australian Securities and Investment Commission (ASIC) in an opening speech at the ASIC annual forum on Nov. 3 local time said it will use current laws to police “risky and complex products” to protect....
Australia's financial services regulator sees the rise in crypto investment during the COVID-19 pandemic as a cause for concern, especially among young and new investors. The chief of Australia’s financial services regulator Joe Longo has raised the alarm over the sheer amount of people that invested in “unregulated, volatile” crypto assets during the pandemic. Longo, chairman of the Australian Securities and Investments Commission (ASIC) made the comments in an Aug. 11 media release for its research conducted in November 2021, which looked into investment behavior following the onset of t....
Part of its actions will include raising public awareness about the risks inherent in crypto-assets and decentralized finance. Australia’s financial regulator, Australia's Securities and Investments Commission (ASIC) has pledged to put crypto assets and decentralized finance (DeFi) firmly in its sights over the next four years. According to ASIC’s newly released “Corporate Plan” released on Tuesday, the financial regulator said it will be focusing on “digitally enabled misconducts” as “emerging technologies and products change our financial ecosystem” as part of its four-year strategic....
The chairman of the U.S. Securities and Exchange Commission (SEC), Gary Gensler, has warned the public about crypto investments that seem “too good to be true.” Meanwhile, the U.S. Treasury Department says that the recent crypto market turmoil underscores the urgent need for regulatory frameworks that mitigate the risks posed by digital assets.
SEC Chair Gensler’s Crypto Warning
SEC Chairman Gary Gensler cautioned investors last week about crypto lending platforms offering products that seem too good to be true, Reuters reported.
The securities....
Federal Reserve Vice Chair Lael Brainard has stressed the importance of establishing sound regulation for the crypto financial system “now before the crypto ecosystem becomes so large or interconnected that it might pose risks to the stability of the broader financial system.” Fed Vice Chair Brainard on Crypto Regulation Lael Brainard, the vice chair of the Board of the Federal Reserve Governors, talked about crypto regulation and decentralized finance (defi) Friday at a Bank of England conference in London. She began by referencing recent volatility in the crypto market,....