Crypto Should Be Judged By Economic Role, Not Tech Design: ASIC Fintech Chief

ASIC's fintech chief argues that cryptocurrency regulation should focus on economic function rather than technological design. The analysis reveals that most consumer harm in crypto comes from intermediary platforms like exchanges and custodians, not from the tokens themselves.

• →Most consumer harm in crypto stems from platforms like exchanges, custodians, and lenders rather than the tokens themselves.
• →ASIC proposes judging crypto by economic role instead of technical design for regulatory purposes.
• →The finding comes from a new paper examining crypto-related consumer protection issues.
• →Regulatory focus should shift toward intermediary services that handle crypto assets.
• →Iran conflict tensions have pushed crypto prices higher but analysts see limited upside potential.