Australia to Require Financial Services Licenses for Crypto Firms Under Corporations Law

Sep 23, 2024, 08:40 AM

Australia is set to implement new legislation requiring cryptocurrency exchanges to obtain financial services licenses under corporations law. The new regulations, announced by ASIC commissioner Alan Kirkland at the AFR Crypto and Digital Assets summit, aim to extend regulatory oversight beyond just digital currency exchanges. The move is part of a broader effort to enhance the regulatory framework for cryptocurrency firms operating in Australia.