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Fintech Market Overview

This article does not constitute legal advice.

Digital assets in Australia

Fintech Software

Australia's approach to regulating digital marketplaces and cryptoassets is developing. While Australia's regulatory framework is 'technology neutral' and therefore will trigger regulatory requirements where cryptoassets are financial products, 2021 witnessed a shift in regulatory focus towards digital platforms and cryptoassets as a discrete area. This included ASIC releasing guidance for exchange-traded products that invest in cryptoassets (including bringing these within the scope of AFSL authorisations), as well as expectations for financial markets that list such products.1

Separately, the Australian government has undertaken a raft of regulatory reviews focussed on cryptoassets, recommendations from which may see crypto exchanges and custody providers brought within the regulatory regime. This also includes a proposal to recognise decentralised autonomous organisations (DAO) as legal entities in Australia, as well as a token mapping exercise to determine the relevant features and regulated status of cryptoassets in the market.1

Smart contracts in Australia

Fintech in Australia

Fintech in other countries

Notes
  1. https://thelawreviews.co.uk/title/the-financial-technology-law-review/australia
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