Monochrome Asset Management Receives Australian Financial Services License

Speaking to Cointelegraph, Jeff Yew, CEO of Monochrome Asset Management, said the Australian Financial Services License (AFSL) approval is significant, as until this point, approved crypto ETFs in Australia only operate under general financial asset authorization and only indirectly hold crypto-assets. Yew noted that Monochrome’s crypto ETFs, on the other hand, will directly hold the underlying crypto-assets and is specifically authorized by the Australian Securities & Investments Commission (ASIC) to do so.