New financial provisions in Australia has forced a blockchain business to radically change its legal structure and business model. Liquid nobleAs previously built a system to tokenize precious metals on BSV blockchain, recently announced that it would need to disconnect its broker completely from blockchain and any digital assets.
Liquid noble CEO And dragon said the changes were necessary after the last updates of Australian Securities and Investments Commission (Asic) Regulatory information 225 on digital assets. Any issuer of wrapped ‘crypto assets’ or tokenized real assets In Australia, a license for financial services will soon.
The costs in connection with getting the license set it out of floating noble’s reach. Even if it tokenizes precious metal value on one Scalable blockchain Formed one of the company’s key sales points, it can no longer renew itself in that area.
Liquid Noble has restructured its operations to only act as a commodity trader and delivered physical precious metals to customers, albeit in a modern, app -driven format. The liquid noble app (For Posten, this is still what is based and compatible with BSV SDK) will work in a similar way, but as a more “closed loop system.” With that you can still use it to buy precious metals and arrange physical delivery, but all activity is limited to the company’s own verified user base.
According to the new rules, the company had to abandon the promising Noblegold ($ LGAU) token that it created earlier this year and remove all references to blockchain and tokenization assets from previous posts on their social media accounts. The deadline for the changes was June 30, 2025.
On a more positive note, for precious metal enthusiasts who do not care about the absence of blockchain tokens, Liquid Nobles platform actually expands. This week, it announced that customers could carry out local Fiat Currency Bank transfers in EUR, USD, GBP, SGD, CAD and NZD (customers in Australia have always been able to transfer AUD).
The service is still planning to launch new features this year, but noted that “all tokenization services and Digital currency exchange will be performed by another legal unit in the future, regardless of Liquid Noble Pty Ltd. “
Liquid Noble protects customers’ asset value
Dragon emphasized that none of Liquid Noble’s customers have lost any asset value due to the transition – after all they legally own the physical gold, which remains safe in vaults. Those with the lgau -tokens in liquid noble Wallets had them converted to physical gold right (which can also be used to order physical delivery). Lgau Had also received a list of the Coinstore exchange; But there were some token holders who had moved their assets from Liquid Noble’s platform.
“We are also involved in honoring the gold support of our symbols for anyone who failed to sell their LGAU via Coinstore in time,” added Dragon.
“If proof of evidence is provided (E -post protected)We can arrange a manual repurchase (it was only tokens that were delisted, the underlying gold remains safely stored). Although this process is less than ideal, we really care about our customers and value their support, will do everything we can to solve this fairly and quickly. “
Australian asset coinage platforms without a license for financial services are officially no longer allowed to discuss digital assets, including further explanation of what required the changes or announcements about plans involving Blockchain.
Bad timing like tokenization grows gold -backed assets in popularity
It is an unfortunate time for Liquid Noble and those who want to build innovative digital solutions with asset tokenization in Australia. The company had not only launched its services quite recently, but there is currently a growing interest all over the world in precious metals and gold -supported digital symbols. National Fiat currencies encounter growing instability in the midst of economic anxiety and trade, threats of war and penalties and visible inflation.
Gold -supported tokens that LGAU had (or rather, has) the potential to become a new type of commercial currency and/or an alternative to Stablecoins. Although there are alternatives and there will inevitably be more, it is necessary for them to exist on a scalable blockchain with low transaction fees and a stable underlying protocol to build a useful and liquid economy.
For all their conversations about not wanting to stifle technical innovation, the supervisory authorities often make precisely that by introducing compliance costs that praise many small operators and start -ups from the market. In blockchain was the most notorious example of this New York State ”Biting“Rule, who saw many start -ups either leave the state or deny access to New York residents. It is still a barrier even today and serves as a protection for larger financial companies with deep pockets and extensive networks.
Watch: Reggie Middleton at Defi, Booms/Busts & Crypto Regulation
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