The Australian Securities and Investments Commission (ASIC), an independent government agency that serves as the nation’s corporate regulator, has identified regulatory gaps in the fast-growing fintech sector, particularly digital assets.
The regulator’s new report titled “Key Issues Outlook to 2026” released on Tuesday expresses concerns that consumers are facing rapid expansion of unlicensed cryptocurrency, payments and artificial intelligence companies.
It argued that it is up to the government to decide whether these new products or services should be brought under regulatory ambit, while warning that some entities may actively seek to remain unlicensed, thereby increasing “perceived regulatory uncertainty”.
The regulator said this behavior by some companies requires ASIC to continue to focus on regulatory boundaries and keep licensing rules clear in 2026.
A few weeks ago, Australia introduced amendments to the Corporations Act 2001 and the Australian Securities and Investments Commission Act 2001, setting out rules for companies that handle customers’ digital assets.
