Crypto
Australia Moves to Regulate Cryptocurrency Exchanges
Australia will regulate cryptocurrency exchanges and platforms to reduce risk and protect consumers by lifting operating standards and increasing oversight, Treasurer Jim Chalmers said Monday.
A new regulatory framework will be introduced covering entities that provide and hold digital assets consistent with European Union, UK, Canada, and Singapore crypto regulation, a Treasury proposal paper said.
- Crypto exchanges or digital asset platforms holding more than A$1,500 ($950) for an individual or A$5 million in total would be regulated under Australian financial services laws, and operators would need to obtain an Australian Financial Services License, the paper …