Australian government proposes regulations for crypto exchanges and stablecoin issuers
Crypto exchanges and stablecoin issuers in Australia could soon face stricter licensing rules under a proposed regulatory shake-up.
On March 20, the Treasury released a new policy paper outlining plans to bring key parts of the digital asset industry under existing financial services laws.
According to authorities, the regulations would help “identify opportunities, manage risks, unlock innovation, protect consumers and uphold market integrity.”
Under the proposed framework, crypto platforms that hold digital assets for customers, such as exchanges, custodians, and certain brokerages, will need to operate under an Australian Financial Services Licence.
Platforms that deal in tokenized stored-value…
