Crypto exchanges treated like banks with new Australian regulation
After years of delays, the federal government is finally moving forward with crypto regulation — and the digital asset industry is cautiously optimistic.
On Friday, the Albanese government released its long-awaited digital asset platforms policy. It will require cryptocurrency exchanges and fintechs holding customer assets to meet the same basic governance standards as other financial service providers. This will include both Bitcoin and stablecoins.
Some of these governance standards will include providing services honestly and fairly, we well as avoiding conflicts of interest.
Under the new rules, crypto exchanges will also face minimum capital requirements to help prevent collapses like FTX, which left Australian…
