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Australia is witnessing some green shoots in its development of cryptocurrencies and blockchain, but an upcoming election could halt its progress, a conference has been warned: https://t.co/pKOVzIeFqh https://t.co/6mI1RnrADm
AUSTRALIA TIGHTENS THE NOOSE ON CRYPTO EXCHANGES ASIC’s licensing push by November 2024 is a wake-up call for exchanges in Australia. Most tokens are already being classified as “financial products,” so the game’s about to change. This isn’t a shock - global regulators are… https://t.co/H7pQ1TLaKb
AUSTRALIA TO CREATE NEW CRYPTO LAWS ASIC’s about to make crypto exchanges in Australia get licensed up by Nov 2024. Exchanges need to meet new financial services standards to stay above water, with ASIC treating most crypto tokens like “financial products.” Kirkland says it’s… https://t.co/eNXS4NnCA3
Australia is set to implement new legislation requiring cryptocurrency exchanges and other crypto firms to obtain financial services licenses. The Australian Securities and Investments Commission (ASIC) is preparing an update to clarify how these firms will need to be licensed under the Corporations Act. This move aims to bolster market security and ramp up consumer protection. ASIC's commissioner Alan Kirkland announced at the AFR Crypto and Digital Assets summit that most crypto tokens will be treated as financial products, and the new regulations are expected to take effect by November 2024.