Australia’s financial regulator is closing all misleading and deceptive initial coin offerings (ICOs), citing “a serious infringe of the Australian law. Due to regulator’s inquiries, some crypto service providers have halted selling of their tokens while others are modifying their structures.
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On Tuesday, the Australian Securities & Investments Commission (ASIC) pronounced that it is acting “on all deceptive conducts in the marketing and selling of virtual or digital tokens via initial coin offerings (ICOs).” On April 19, the Australian Competition and Consumer Commission (ACCC) has delegated powers to ASIC to take action under the Australian Consumer Law relating to crypto-assets.
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[Video] Australia Cracks Down on Misleading and Deceptive Initial Coin Offerings - Bitcoin News