Search results for Australian Securities and Investments Commission
Crypto
Australia to expand regulation of crypto-settled derivatives, limit leverage and losses
Australia\'s securities regulator is moving to apply leverage caps and loss limits to some derivatives settled in cryptocurrency. The Australian Securities and Investments Commission proposed amendments to extend consumer protections under contracts for difference rules to certain digital-asset settlement contracts. Some fixed-maturity crypto futures and options would remain outside the CFD regime. ASIC will take submissions until Nov. 9, with final rules potentially adjusted after industry feedback.
Crypto
Australia steps up crypto regulation, sanctions from October for unlicensed firms
Australia\'s financial regulator has issued a final warning to cryptocurrency firms operating under a temporary regulatory reprieve to move quickly to apply for financial services licences. Firms that need an Australian Financial Services licence must apply for a new licence or seek changes to an existing one by Sept. 30, or face possible sanctions including fines of up to 10 percent of annual revenue. Separate licence categories have additional notification and consultation requirements.
Crypto
ASX shareholders push lawsuit against former executives over failed blockchain CHESS replacement
Shareholders of Australian Securities Exchange (ASX) are moving to sue former executives and directors over the failed blockchain-based CHESS replacement project. Cointelegraph reported that Rocheville notified ASX it will apply to the Federal Court for permission to bring a statutory derivative action under sections 236 and 237 of the Corporations Act. ASX said there were no allegations against the exchange itself. The project was halted in 2022 after an Accenture review found major design and capability issues.
