Australia plans clear crypto laws to boost innovation and investor safety
Australia is taking decisive steps toward establishing a clear regulatory framework for the crypto sector, according to the Treasury’s Statement on Developing an Innovative Australian Digital Asset Industry.
The Treasury said the move aims to provide greater consumer protection, reduce risk, and bring much-needed clarity to the industry.
Regulatory framework
Under the proposed framework, certain crypto firms will be brought under existing financial services laws.
This includes exchanges, custodians, and stablecoin issuers, all of whom must obtain an Australian Financial Services License (AFSL) to operate legally. These businesses would also be subject to new rules designed to reflect the specific nature of digital assets.
The Treasury…
