"ASIC thinks many widely traded crypto assets are a financial product, which means they will likely need a license under current laws, raising concerns about tighter oversight."
"Businesses are feeling uncertain about ASIC's more stringent oversight, prompting a potential exodus for companies exploring opportunities abroad."
"The comments should prompt urgent industry consultation with policymakers; if ASIC sticks to regulation by enforcement, it could mirror past inefficient U.S. SEC approaches."
"ASIC's expansion of regulatory power has alarmed the crypto sector, leading to fears that increased licenses and oversight might move companies out of Australia."
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