Australia risks falling behind in capital markets if it does not embrace tokenization and other emerging technologies, according to ASIC Chairman Joe Longo. He cautioned that while other nations are advancing, Australia could become a 'left-behind' market if it merely follows overseas developments. Longo highlighted the global push for asset tokenization, noting leaders like Blackstone's Larry Fink advocate for its full adoption. The current global value of tokenized real-world assets stands at $358 billion, with projections reaching $16 trillion by 2030. JPMorgan aims to tokenize $730 billion in assets by 2028, broadening market access beyond large investors. To support innovation, ASIC plans to restart its innovation hub and has issued new guidance to balance technological advancement with investor protection.