Australia Proposes New Crypto Regulations
TLDR
- Australia introduces new licensing requirements for crypto exchanges.
- Draft crypto legislation targets key activities like staking and wrapped tokens.
- Smaller crypto platforms exempt from new rules based on size and risk.
- Heavy penalties for breaches of new crypto regulations in Australia.
Australia is working to tighten regulations for crypto service providers with new draft legislation aimed at extending finance sector laws to crypto exchanges. This move is part of the Albanese Government’s broader digital asset roadmap, which was outlined in March. Assistant Treasurer Daniel Mulino confirmed the draft legislation on Thursday during a crypto conference, calling it a cornerstone of the country’s strategy for…
