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Australia Proposes New Licensing Framework for Crypto Firms Under Financial Services Rules
Australia Proposes New Licensing Framework for Crypto Firms Under Financial Services Rules
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BTCCSquare news:
Australia's treasury has unveiled draft legislation aiming to regulate cryptocurrency platforms under existing financial services laws. The proposal mandates that digital asset providers obtain licenses and adhere to consumer protection standards, placing them under the oversight of the Australian Securities and Investments Commission (ASIC).
Daniel Mulino, assistant treasurer, emphasized the targeted extension of financial regulations to cover crypto businesses. The consultation period for the draft legislation runs until October 24, 2025, signaling a structured approach to integrating digital assets into the formal financial ecosystem.
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