According to Foresight News, CoinDesk reported that John O'Loghlen, managing director of Coinbase Asia Pacific, expressed concerns about the Australian regulator ASIC's "ongoing supervision through law enforcement", although he praised the new ASIC team for "deep engagement with industry participants" and hoped that the new draft legislation for the encryption industry would provide a clear regulatory framework.
Earlier this month, Coinbase hired David Menz, who held senior positions at ASIC and the Australian Treasury’s digital assets and crypto department, as its Asia-Pacific policy manager. David Menz said that within the framework, “we support obtaining an Australian Financial Services (AFS) license” to conduct crypto-related business and hope to include staking services, indicating that “no licensed entity should bet customers’ assets without” their permission.