Australia's ASIC chairman warns that a conservative attitude towards tokenization may lead to missed opportunities

According to Cointelegraph, Joe Longo, chairman of the Australian Securities and Investments Commission (ASIC), warned on Wednesday at the National Press Club that Australia risks falling behind in global competition if it does not embrace new technologies such as asset tokenization.

Longo stated that distributed ledger technology could fundamentally change capital markets, and globally tokenized assets are expected to reach a scale of $2-16 trillion by 2030. To address these challenges, ASIC will relaunch its innovation hub to support fintech startups in navigating regulatory challenges.