Crypto is finance with new infrastructure, says Australia’s ASIC fintech chief

Australia’s financial regulator ASIC argues that cryptocurrency does not require entirely new regulatory frameworks, comparing blockchain technology to previous shifts in financial infrastructure. The regulator’s fintech chief noted that when financial systems moved from paper-based to electronic records, new regulations were not needed because the underlying principles remained the same. This perspective suggests that existing financial regulations can adapt to blockchain technology without requiring a complete overhaul of the regulatory framework.