Australia Risks Being ’Left Behind’ as Tokenization Transforms Global Markets – ASIC
Australia's financial regulator has issued a stark warning about the nation's lagging position in blockchain-driven tokenization, a market that has surged past $35.8 billion globally. ASIC Chair Joe Longo emphasized the urgent need for regulatory modernization during a keynote at the National Press Club in Canberra.
Tokenization is reshaping capital markets through instant settlement, fractional ownership, and expanded investor access. Major institutions like J.P. Morgan are moving rapidly, with plans to fully tokenize money market funds within two years. Nasdaq and DTCC are similarly developing tokenized trading platforms.
'Australia must innovate or stagnate,' Longo declared, framing the technology as transformative as the introduction of electronic trading in the 1990s. Without action, the country risks becoming a 'land of missed opportunity' in the evolving digital asset landscape.
