ASIC Says Stablecoins and Wrapped Tokens Are Financial Products
Key Insights ASIC now classifies stablecoins, wrapped tokens, tokenised securities and digital asset wallets as financial products, requiring licensing. A…
Australia Grants Licensing Relief for Stablecoin Intermediaries
Key Insights ASIC has granted licensing relief for intermediaries distributing stablecoins issued by licensed entities, easing compliance costs until 2028.…
ASIC Fines ANZ Bank $240 Million for Bond Trading Misconduct
Key Insights ANZ faces Australia’s largest-ever regulatory fine of A$240 million for “unconscionable conduct” in government bond trading and widespread…
Australia’s ASIC Issues Public Warning Against Bitget Over Unlicensed Crypto Futures Products
Key Insights ASIC has warned against Bitget for offering unlicensed crypto futures with leverage up to 125:1, far exceeding legal…
Australia’s ASIC Sues Former ACX Director Allan Guo Over Crypto Exchange Collapse
Key Insights ASIC has filed civil penalty proceedings against Allan Guo, former executive of collapsed crypto exchange ACX, over alleged…
Australia’s ASIC Revokes FXOpen AU’s Licence Over Compliance Issues
Key Insights ASIC cancels FXOpen AU’s financial services licence due to inadequate resources and compliance failures. The regulator aims to…
Kraken’s Australian Arm Loses Court Battle, Cites Regulatory Ambiguity
Key Insights Australia’s federal court ruled that Bit Trade, Kraken’s local operator, failed to comply with the Corporations Act by…
ASIC Battles Crypto Fraud: 615 Scam Sites Taken Down
Key Insights Australian regulator ASIC removed 615 cryptocurrency investment scams in the past year. ASIC has taken down over 7,300…
ASIC Bans Financial Adviser for 10 Years, Cancels Firm’s License Over Misconduct
Key Insights ASIC bans Joel James Hewish for 10 years from financial services and cancels his company UGC’s AFS license…
Australian BitConnect Promoter John Bigatton Convicted for Unlicensed Crypto Advice
Key Insights Australian promoter of BitConnect convicted for providing unlicensed financial advice between 2017-2018. Bigatton faces a three-year good behavior…