The Commission on securities and investments Commission Australia (ASIC) will tighten the approach to the regulation of cryptocurrency exchanges and primary offerings of coins (ICO), reports CoinDesk.

The regulator has provided institutional plan for 2018-2022 years, which focuses on “monitoring of the threats from new products,” such as ICO and cryptocurrencies.

In 2018-2019 gg planned to develop a new regulatory framework that focuses on regulation of cryptocurrency exchanges and “prevention of illegal actions” that could harm the interests of investors. Also, the Commission is to license and monitor financial market participants, clearing agencies and trade derivatives.

Currently, the local cryptocurrency companies are obliged to identify their clients and to take other measures against money laundering (KYC/AML), established the Australian reporting and analysis centre transactions (Austrac).

Recently, local IT company Byte Power Group started ICO-campaign targeting investors from Australia and Singapore. The project intends to raise funds in the amount of $15 million.

Recall that in spring in Australia came into force new rules for kryptomere aimed at combating money laundering and the financing of terrorism.

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