Australian Government’s Proposed Crypto Regulation Framework – The Full Details.
The Australian government has proposed a new regulatory framework for crypto assets that is designed to protect consumers and support innovation in the sector. The framework, which is still in its early stages of development, is expected to be finalized in 2024.
Key features of the proposed framework
Digital asset service providers (DASPs) will be required to hold an Australian Financial Services Licence (AFSL).
A new type of financial product called a ‘digital asset facility’ will be introduced.