SP1 0.00% $1.07 southern cross payments ltd

100%. ASIC and ASX understand how severe these potential...

  1. 383 Posts.
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    100%. ASIC and ASX understand how severe these potential problems fast growing FinTech companies can become. They need to have a leash. There is no way the government will allow them the freedoms the banks had.

    ASIC are not a technology company. They need time to understand everything and how to plan for the next decade. A FinTech company can double in size in 6 months in places like the UK and the US. That’s how urgent this is. If I was the government I’ll show them who is boss to make sure the citizens and the economy is protected. I mentioned in another article about Senator Jane Hume. She said shareholders are not her concern. My theory is, she would have ordered ISX to stay under suspension to eliminate the market while they work on what they need to do. They want to control the narrative.

    I rather this happen now than later. So that the team can focus on growth and demonstrate that they can drive value for shareholders and they can establish their role in partnership with the government.

    They would be absolutely stupid to destroy ISX. Who else can they turn to in Australia in regards to RegTech. They are the front leaders and experts in their subject matter. ISX can also provide data from Europe and China via their UnionPay partnership. If I was the government, I would leverage ISX and make them do what I want them to do.

    ISX’s technology is on a different level to Afterpay. If I was in government, why the hell would you ask advice from a consumer tech product. Get the experts in RegTech and make them work for you.

    What annoys me about Australia is their lack of respect for technology. They allowed the guy who invented wifi leave for US funding because they didn’t see the big picture. That wifi technology could have been our version of Apple. Australia would have been a technology player on the global scale. We are nothing compared to the UK, US and China. Half these tech companies on the ASX think too small. And retail investors buy them because they lack the knowledge of what other countries are inventing. Anyways rant over haha.
 
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