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What will be the primary reason cited by crypto firms for ceasing operations in Australia by March 31, 2025?
2
Resolution / Starting Odds
Regulatory Burden • 25%
Operational Costs • 25%
Market Conditions • 25%
Other • 25%
Official statements from the firms or news reports
Story
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.
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Similar markets
Yes • 50%
No • 50%
Kraken • 25%
Bit Trade • 25%
Binance • 25%
Other • 25%
Yes • 50%
No • 50%
Fine • 25%
License suspension • 25%
New regulation introduced • 25%
No major action • 25%
Compliance issues • 25%
Security breaches • 25%
Market manipulation • 25%
Other reasons • 25%
Increased public interest in cryptocurrencies • 25%
Increased tourism • 25%
Criminal activity • 25%
Other • 25%
Money Laundering • 25%
Ransomware Activities • 25%
Tax Evasion • 25%
Other • 25%
Yes • 50%
No • 50%
Security breach • 25%
Financial insolvency • 25%
Regulatory issues • 25%
Other • 25%
Increased consumer demand • 25%
Increased business adoption • 25%
Government incentives • 25%
Other • 25%
