According to a Decrypt article by Sebastian Sinclair, decrypt
The Australian government has unveiled new cryptocurrency rules targeting exchanges and stablecoins, with plans to curb banking cancellations.
The Australian government, led by Prime Minister Anthony Albanese, has established a new regulatory framework for digital assets, aimed at providing greater certainty for industry participants while addressing the risks associated with consumer protection and market integrity.
The reforms will require major cryptocurrency platforms to obtain an Australian Financial Services License, with exemptions for smaller businesses and enterprises not engaged in financial services.
The Treasury statement on developing Australia's innovative digital asset industry, released on Thursday, includes details of plans to regulate digital asset platforms and stablecoins under existing financial services laws.
Sydney, Australia. Image: Shutterstock
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