Australia’s corporate regulator wants its retail derivatives rulebook to cover contracts settled in crypto. It also wants that rulebook to stay for another decade.
ASIC opened a consultation on 12 October on extending and amending the consumer protections that govern contracts for difference. A CFD is a leveraged contract whose payout follows the price of an underlying asset. The regulator’s product intervention order has set the terms for selling them to retail clients since March 2021.
The proposal has two parts. ASIC wants the order to remain in place a further 10 years. It also wants the definition of a CFD widened, so that products settled in digital assets sit under the same rules as those settled in cash.
