Australian Financial Observer Claims Bitcoin ETP Can Create 'Risk'.

  Australian Financial Observer Claims Bitcoin ETP Can Create 'Risk'. In a statement Wednesday, the country's Financial regulator said it should be cautious when it launches a product (ETP) traded on Australia's crypto exchange. According to ASIC's valuation, he says, it should be examined whether cryptos are suitable underlying assets for an exchange-traded product. In an advisory from the Australian Securities and Investment Commission (ASIC), which is investigating, the regulator is reaching out to market participants for feedback on current ETP prospects for crypto-based products. ASIC said it is trying to scrutinize every aspect of the evaluation of cryptos, according to the article.

In a statement Wednesday, the country's Financial regulator said it should be cautious when it launches a product (ETP) traded on Australia's crypto exchange.

The presented paper explored how an ETP could affect the market, including all the possibilities (cost and competition). And it was said that this research was shaped in two main areas and they expected feedback according to the result. “In our view, the only crypto assets likely to meet these factors are bitcoin (BTC, -1.22%) and ether (ETH, -1.37),” the regulator said. It is also outlined to consider how product issuers can ensure that these products comply with the current regulatory framework, including retention, risk management and disclosure.  

Source: Coindesk

 

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