Australian securities regulator issues guidelines for crypto ETPs
The Australia Securities and Investments Commission (ASIC) has issued its response to public consultation on cryptocurrency exchange-traded products (ETPs) alongside fresh industry guidance.
On Oct. 29, the regulator released a set of regulatory requirements for funds looking to offer crypto ETPs, including exchange-traded funds (ETFs) and structured products, following months of industry consultation initiated in late June.
According to the official guidance, ASIC has so far greenlighted ETPs based on major cryptocurrencies like Bitcoin (BTC) and Ether (ETH) and expects more crypto assets to become a foundation for ETPs in the future:
In order to become a proper basis for a crypto ETF, crypto assets should obtain a high level of institutional
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