Author

Shemira Jeevaratnam

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Background The Australian Securities and Investments Commission (ASIC) has released an update to Information Sheet 225 Initial coin offerings and crypto-assets (INFO 225). These updates follow the Australian Treasury’s release of its issues paper in January this year, and a subsequent consultation period with stakeholders. Baker McKenzie was involved in the consultation process and delivered a written submission addressing token categorisation, secondary trading in the ICO market, and the current Australian regulatory framework pertaining to…

In May of this year, the Australian Securities and Investments Commission (ASIC) indicated that ICO issuers and their associated advisers would come under regulator scrutiny where their conduct or statements were identified as misleading or deceptive. ┬áThe Australian Competition and Consumer Commission (ACCC) authorized ASIC to take action against misleading and deceptive conduct in relation to ICOs, even where the ICO does not constitute a “financial product” under Chapter 7 of the Corporations Act 2001.…