Blockchain and crypto are technologies performing the same functions as existing financial infrastructure, so they shouldn’t be treated as separate asset classes when crafting legislation, according to the fintech chief of Australia’s securities regulator.In a paper presented at the Melbourne Money & Finance Conference on Wednesday, Australian Securities and Investments Commission’s (ASIC’s) head of fintech, Rhys Bollen, said crypto should be regulated on “economic substance rather than technological form.”Tokenized securities should fall within securities laws, and stablecoins should trigger payment services legislation, Bollen said, while noting that other elements of crypto may be subject to consumer protection laws.Bollen’s approach contrasts…

The prediction markets platform argued for an injunction against Ohio authorities, claiming that federal commodities laws superseded state laws on sport event contracts.An Ohio federal court has denied a motion filed by prediction markets platform Kalshi for a preliminary injunction against Ohio state authorities over allegations that the company was operating in violation of gambling laws.In an order filed Monday, US District Court for the Southern District of Ohio Chief Judge Sarah Morrison denied Kalshi’s request for an injunction that would have blocked the Ohio Casino Control Commission and state attorney general from regulating contracts on the platform, specifically for…

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