OKX urges ASIC against overreach on crypto assets, stablecoins — Capital Brief
Global crypto exchange OKX is urging the government to refrain from directly regulating digital assets like stablecoins but has welcomed draft legislation that introduces financial licensing arrangements for products like digital wallets or exchanges that hold assets for customers.
OKX Australia chief executive Kate Cooper told Capital Brief that targeting the tokens themselves would add an unnecessary regulatory burden, particularly for under resourced startups developing new digital assets or technologies without common classifications.
The crypto exchange, which already has an Australian Financial Services Licence (AFSL), is supportive of the proposed licensing requirements for “digital asset platforms” and “tokenised custody…
