Australia’s securities regulator has released a series of new guidelines for Bitcoin and Ethereum ETPs that look promising.
According to CryptoPotato news, the Australian Securities and Investments Commission (ASIC) has taken a slow but cautious series of steps regarding exchange-traded products (ETP) that monitor the performance of crypto assets. Detailing the regulatory requirements for funds that expect to offer crypto ETPs, this guide aims to not only ensure investor protection, but also increase transparency. ASIC has listed five criteria for such products:
The institution says that these criteria were created to support a fair, orderly and transparent market. The institution also hopes to reduce concerns about price manipulation with these criteria. ASIC confirmed that Bitcoin and Ethereum are in line with the mentioned factors.