Joe Longo, Chair of the Australian Securities and Investments Commission (ASIC), has issued a warning that Australia's capital markets may fall behind globally if they do not actively embrace new technologies like tokenization. Longo highlighted discussions with JPMorgan employees, noting that the development of tokenization could progress faster than anticipated. JPMorgan plans to tokenize $730 billion in money market fund assets within two years. Longo emphasized that asset tokenization could also democratize access to capital markets, breaking down barriers traditionally reserved for institutions and high-net-worth individuals.