Australia’s Prudential Regulation Authority (APRA) released a roadmap of its plan to fully regulate the crypto industry in the country by 2025.
Under the plan, the APRA will gradually increase its sector supervision over the coming three years. The watchdog will carry out consultations during 2022 and 2023, following which it will gradually introduce regulatory standards in 2024 and 2025.
Roadmap – Source: APRA
APRA Chair Wayne Byres said:
“APRA is developing the longer-term prudential framework for crypto-assets and related activities in Australia in consultation with other regulators internationally, to ensure consistency in approach.”
2022
The Basel Committee consultation on crypto assets will provide insights on how to cautiously expose banks and other authorized deposit-taking institutions (ADIs) to crypto. These insights will minimize the operational risks associated with handling crypto and provide a starting point for other APRA-regulated industries.
2023
After setti
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