Everyone should feel more relaxed after reading this.
Afterpay also pointed to a recent regulatory review in New Zealand, where the Adern government has decided buy-now-pay-later firms should not be brought under consumer credit laws and will instead use product intervention powers to provide a flexible response to emerging technologies.
Afterpay executive director David Hancock said the extension of ASIC's intervention powers would increase public confidence in its product.
"Afterpay recognises its business model was not fully envisaged by existing law, as is the case with many new technologies, which is why we have proactively engaged with government and industry groups."
APT Price at posting:
$11.35 Sentiment: Buy Disclosure: Held
