Australian regulator issues fresh guidance regarding ICOs and crypto assets, but gaps remain
The Australian Securities and Investments Commission (ASIC) has issued guidance to local ICOs, saying crypto projects need to self-determine the need for an Australian financial services (AFS) license and compliance with the Corporations Act. The onus is put on businesses to determine if they fall under the ASIC criteria with a Block commentator arguing that the guidelines do little to alter the overarching question: what's a utility token and what's a security?
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