Key Insights:
The latest crypto regulation news showed that Australia mandates an AFSL licence for crypto exchanges and custodians.
First comprehensive legal framework for digital asset platforms.
Focus on consumer protection and safer handling of user funds.
Australia’s crypto industry has reached a major milestone with the launch of landmark legislation. After years of uncertainty, the country has finally set a clear crypto regulation for the industry.
The new legislation also stipulates that crypto exchanges and custodians need to have an Australian Financial Services License (AFSL). The law is aimed at providing stronger consumer protection and a stable system for the growing crypto industry.
Australia Introduces New Crypto Regulation Framework
Australia’s financial watchdog has introduced a licensing scheme targeting crypto exchanges and custodians. The legislation requires every crypto exchange platform to have an Australian Financial Services License.
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