Summary
In Australia, firms must get approval from ASIC before applying to an exchange for listing a product. Monochrome has already received approval for their product.
Key Points
1. In Australia, firms must obtain approval from the Australian Securities & Investments Commission (ASIC) before applying to an exchange for listing a product.
2. Monochrome has already received approval from ASIC for its product, indicating that it has met regulatory requirements in Australia.
3. This regulatory process in Australia differs from the U.S., where firms can directly apply to exchanges for listing without prior approval from a regulator.