ASIC chair Longo calls the growing demand for crypto ‘impossible to ignore’

ASIC chair Longo calls the growing demand for crypto ‘impossible to ignore’


Joe Longo, chair of the Australian Securities and Investments Commission, or ASIC, spoke at the Australian Financial Review Super and Wealth Summit on Monday at the Fullerton Hotel in Sydney. 

The rise of crypto, he said, has been “nothing short of phenomenal, and impossible to ignore.”

As a corporate and markets regulator, Longo admitted to a certain fascination with decentralized autonomous organizations, or DAOs. He said that they present certain challenges for national regulators like ASIC:

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“To paraphrase a concept familiar to corporate lawyers, to whom does ASIC turn to ascertain the directing mind and will of a DAO? It is not clear who is accountable if things go wrong, or don’t go as intended or anticipated. Nor is it clear how a DAO, itself, can be

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