Australia Unveils New Crypto Regulation Framework Ahead Of Federal Election
Australia’s government, led by the center-left Labor Party, unveiled a new crypto framework that will regulate exchanges under existing financial services laws.
The proposal comes just ahead of the federal election, expected to be held on or before May 17, with polling indicating a tight race between Prime Minister Anthony Albanese’s Labor Party and the Coalition, led by Peter Dutton.
The new rules, announced by the Treasury Department on March 21, will apply to crypto exchanges, custody services, and some brokerage firms that trade or store digital assets. These companies will face compliance requirements similar to those in traditional financial services, including safeguarding customer assets, obtaining an Australian…
