Under the decision of the Securities Commission of Australia (ASIC), some issuers of tokens have changed or completely suspended their offers.
“ASIC sends requests to ICO issuers, trying to identify actions that may mislead investors … After our inquiries, some issuers stopped their ICO or indicated that the ICO policy will be changed,” the regulator’s representatives said.
Also, the agency sent inquiries to operators, which according to ASIC, carry out illegal unlicensed activities. John Price, the commissioner of the department, said:
“If you operate with someone else’s money or sell something to someone, you have obligations. Regardless of the structure of the issue of coins, there is one law that will always be applied: you can not mislead anyone with statements about your product. “
Such actions are taken by the regulator after confirmation of the policy update regarding the ICO and crypto-currency in the country.