Australia to require crypto firms to hold financial services licenses
Licensing requirements for crypto exchanges in Australia will be extended beyond those related to digital currency exchanges.
Australian regulators are reportedly preparing new legislation to require cryptocurrency exchanges to obtain financial services licenses.
Licensing requirements for crypto exchanges in Australia are set to be extended beyond those related to digital currency exchanges, The Australian Financial Review (AFR) reported.
According to Australian Securities and Investments Commission (ASIC) commissioner Alan Kirkland, the new requirements are necessary because the regulator considers that the Corporations Act captures most major crypto assets like Bitcoin (BTC) and Ether (ETH).
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Author: Helen Partz
