Australia's corporate regulator flags risks from rapid innovation in digital assets
ASIC warns consumers face risks from rapidly expanding, unlicensed digital asset and AI companies, urging government clarity on regulation.Summary
The Australian Securities and Investments Commission (ASIC), the national corporate regulator, expressed concerns in its "Key issues outlook 2026" report regarding regulatory gaps in fast-growing fintech sectors, particularly digital assets and artificial intelligence. ASIC noted that consumers are exposed to rapidly expanding and often unlicensed crypto and payments companies. The regulator stressed that it is up to the government to decide if these new products should fall under regulatory purview, warning that some entities might intentionally remain unlicensed, creating "perceived regulatory uncertainty." Consequently, ASIC plans to focus on monitoring regulatory boundaries and ensuring licensing rules remain clear throughout 2026. This warning follows recent amendments to Australian legislation aimed at establishing rules for companies handling customers' digital assets.
(Source：CoinDesk)