Definition ∞ ASIC Enforcement Power refers to the Australian Securities and Investments Commission’s authority to ensure compliance with financial laws. This power permits ASIC to investigate breaches of financial services laws, impose penalties, and take legal action against individuals or entities operating within Australia’s financial markets. Its jurisdiction extends to a broad spectrum of financial products and services, including those involving digital assets where they qualify as regulated instruments. ASIC utilizes these powers to maintain market integrity and protect consumers.
Context ∞ ASIC’s enforcement power is increasingly applied to the digital asset sector as regulators seek to clarify and assert their authority over cryptocurrency activities. Recent news often details ASIC’s actions against unregistered crypto businesses or those failing to meet consumer protection standards. The scope and application of these powers to novel digital financial products remain a key area of legal and regulatory discourse.
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