Australia’s Financial Watchdog Expands Team to Better Regulate Crypto
Australian Securities and Investments Commission (ASIC) increased the size of its crypto team, The Guardian reports, after the popular blockchain shifted from a proof-of-work (PoW) to a proof-of-stake (PoS) system. The change has prompted U.S. Security and Exchange Commission Chairman Gary Gensler to state that PoS-based tokens could be classified as securities.
Ethereum is under renewed scrutiny following last week’s merge event, as the ASIC looks set to decide on whether the market's second-largest cryptocurrency is subject to its oversight. Should ASIC decide to bring PoS tokens like Ethereum, Cardano, and Solana under its remit, crypto exchanges could be forced to either delist them or start complying with more stringent regulatory requirements. Such a move might force some crypto firms to adjust their operating models.
Source
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