Australian ASIC Chair warns that a conservative attitude towards tokenization may lead to missed opportunities
ChainCatcher news, according to Cointelegraph, Joe Longo, Chairman of the Australian Securities and Investments Commission (ASIC), delivered a speech at the National Press Club on Wednesday, warning that Australia's capital markets will fall behind global competition if the country does not embrace new technologies such as asset tokenization.
Longo stated that distributed ledger technology could fundamentally transform capital markets, and the global tokenized asset market is expected to reach a scale of 2 to 16 trillion USD by 2030. To address these challenges, ASIC will relaunch its Innovation Hub to support fintech startups in navigating regulatory challenges.
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