ASIC seeks 10-year extension of safeguards under Australia’s crypto CFD regulation

Retail traders using digital assets to settle leveraged contracts would gain the same safeguards as cash-settled traders under ASIC’s proposed changes to crypto CFD regulation in Australia . The Australian Securities and Investments Commission put forward the changes on October 12, alongside a request to extend protections after retail CFD losses exceeded $458 million in the 2023–24 financial year. Key takeaways ASIC wants qualifying digital asset-settled CFDs covered by existing retail safeguards. Retail CFD losses included $73 million in fees in 2023–24. Certain fixed-expiry crypto futures and options would stay outside the order. Public feedback closes on November 9.

Source: The Cryptonomist