Australian Regulator Wants to Monitor How Firms Use Blockchain Technology

[kreslik.news]

The Australian Securities & Investments Commission (ASIC) today released an information sheet on blockchain technology, entitled “Evaluating distributed ledger technology (DLT)”. It contains six questions that the regulator is likely to ask when assessing whether the use of a blockchain meets regulatory obligations.

These questions are:

How will the DLT be used?;

What DLT platform is being used?;

How is the DLT using data?;

How is the DLT run?;

How does the DLT work under the law?; and

How does the DLT affect others?.

Explaining the need for the move, ASIC says that in the last few years, there has been intense interest in DLT from operators of market infrastructure, ... (read more)