Australian Securities and Investments Commission updates its guidance document on ICO and cryptographic assets

Recently, the Australian Securities and Investments Commission (ASIC) updated its regulatory guidance document INFO 225 to provide information on companies involved in ICO and cryptographic assets (encrypted asset issuers, intermediaries, miners, encrypted trading platforms and wallets and hosting providers). Advice on how to fulfill its legal obligations. ASIC commissioner John Price said, "Companies that provide cryptographic assets or provide services related to cryptographic assets need to conduct appropriate investigations to ensure that they comply with all relevant Australian laws. At the very least, regardless of whether financial products participate in fundraising activities," The Australian Consumer Law prohibits bans on misleading or deceptive behavior. Even if ICO or crypto assets are sold overseas to Australians, it applies to Australian law. In addition, if the crypto-transaction platform is to operate in Australia, the platform operator needs to hold the Australian market. Permit, unless exempted.