Summary of ASIC Report REP 705 – Response to submissions on CP 343
BRISBANE, Saturday 30 October 2021 - On Friday 29 October ASIC released REP 705, its much-anticipated response to submissions on Consultation Paper CP 343 regarding crypto-assets as underlying assets for exchange-traded products (ETPs). ASIC has summarised its licensing proposals and updated its good practice guidelines for market operators and product issuers dealing with crypto-assets (INFO 224, INFO 230).
Perhaps the most important proposal to come out of the report, ASIC stated its preference for a standalone crypto-asset category to be applied to ASIC’s licensing asset kinds.
Monochrome Asset Management has prepared an 8 page summary of ASIC’s report REP 705.