Crypto assets and the challenges for regulatory design

TechREG Chronicle article by Dr Andrew Godwin

This article discusses the challenges for regulatory design in the area of crypto assets. It examines the challenges by reference to the definition of crypto assets, questions that are relevant to the regulation of crypto assets, the current regulatory framework for crypto assets in Australia, and the likely direction of reform in Australia. In terms of the likely direction of reform, the article suggests a move away from a prescriptive, rules-based approach to regulation in favour of a more principles-based approach, the expansion in the regulatory net to include providers of crypto-asset services, and the conferral of greater powers and flexibility on regulators to adapt to challenges brought about by technology.

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