[Australian ASIC Chair Warns Capital Markets May Fall Behind for Not Embracing Tokenization Technology]
Joe Longo, Chair of the Australian Securities and Investments Commission (ASIC), stated during a speech at the National Press Club that if Australia fails to actively adopt emerging technologies, including tokenization, its capital markets may risk being overtaken by other countries. He pointed out that as global markets accelerate innovation, Australia could become a 'land of missed opportunities' or merely passively accept developments from abroad. Boston Consulting Group (BCG) estimates that over $35.8 billion worth of real-world assets have already been tokenized on-chain, with this figure expected to grow to $16 trillion by 2030; McKinsey offers a more conservative forecast of $2 trillion. Meanwhile, U.S. market regulators have introduced the concept of 24/7 trading, and financial leaders such as BlackRock CEO Larry Fink are advocating for asset tokenization as a solution.