ASIC

Aug
28

Cryptocurrency regulation in Australia: Pains and Gains

We start this analysis with an unusual positive: cryptocurrency regulation in Australia is moving in the right direction, and the latest legislative developments regarding cryptocurrencies should be welcomed by the general public as a step in the right direction. Offering protection to crypto consumers and investors, and providing legal certainty to blockchain-related businesses – without […]

By Reposted by Australian FinTech | Bitcoin . FinTech
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Aug
14

After CBA scandal, Australia’s regtech sector is ready for take-off

The local regtech scene is ready for take-off. There were two indications last week that regulatory technology’s engines are revving up. One was the corporate regulator securing an extra $6 million in funding from the federal government to market Australia as a global centre of regtech excellence. The Australian Securities and Investments Commission chairman James […]

By Reposted by Australian FinTech | ASX . Blockchain . Investing
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Aug
09

ASIC wants stake in global regtech sandbox

Australia’s financial regulator has joined 11 other watchdogs from around the world in proposing a new Global Financial Innovation Network (GIFN) to help regulators cope with the rapid rate of technological change in the sector. The Australian Securities and Investments Commission (ASIC) says the new collaborative body would create a “global sandbox” for regtech, fintech […]

By Reposted by Australian FinTech | FinTech
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Jul
24

New legislation could net Afterpay, but nothing can spoil the party

As Afterpay’s share price rose 37.8 per cent over the past few three trading days on positive US expansion figures, the Treasury Department on Friday quietly released draft legislation that could bring the Australian operations of the soaring no-interest lender under the regulation of ASIC. Strangely though, the only group that appears to have noticed […]

By Reposted by Australian FinTech | Borrowing . FinTech . Lending
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Jul
19

Fintech’s double-edged sword

Ultra-low interest rates and fintech were two of the major threats to the stability of the financial system identified by the global regulator in its recent annual economic report. “Sustainable profitability is especially important at the current juncture: banks have been facing the dual challenge of persistently and unusually low interest rates eating away at […]

By Reposted by Australian FinTech | Banking . FinTech
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Jun
15

Fintechs tell Labor a credit report delay will entrench bank power

Labor’s push to delay a law requiring the major banks to put more customer data into credit reports will entrench the big four’s market dominance and keep the cost of personal loans unnecessarily high, five of the nation’s leading marketplace lenders have said. In a letter to shadow treasurer Chris Bowen, the CEOs of SocietyOne, […]

By Reposted by Australian FinTech | Borrowing . FinTech . Lending
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May
28

Australia toughens stance against misleading ICOs

The rapid, perhaps unprecedented rise of cryptocurrencies and financial blockchain innovations continue to be a divisive subject for policy makers in the financial sectors of countries all over the world. Central banks and financial regulators are scrambling to adapt to the new realities this decentralized and sophisticated new interpretation of currency as a medium of […]

By Reposted by Australian FinTech | Currency . FinTech . Investing
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May
18

Anger grows over crowdfund farce

Anger is growing over “farcical” delays to passing the equity crowdfunding bill that would extend the regime to private Australian companies, with the scheme now unlikely to come into effect until the end of the year. There are also concerns that cuts to corporate regulator ASIC will further slow the implementation of the scheme, which […]

By Reposted by Australian FinTech | FinTech . Investing
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