Australian cryptocurrency exchanges have welcomed plans from the Australian Treasury to regulate the industry under existing financial services licensing measures. The Treasury’s consultation paper outlined proposed regulations that would subject cryptocurrency exchanges to existing financial services rules and introduce new guidelines for all Australian firms dealing in digital assets. The new regime aims to provide a framework for industry growth and innovation, ensure regulatory certainty for crypto service providers, and protect consumers and their assets. Industry leaders have praised the proposed regulations, stating that they will drive investment, restore trust, and increase consumer protection. However, some have expressed concerns that the regulations will restrict the industry’s potential for innovation. Despite this, the consultation paper is seen as a positive step towards providing regulatory certainty for crypto companies operating in Australia. Legal experts have also noted that the proposed regulations will help the country catch up to other jurisdictions in terms of crypto regulation. Local cryptocurrency exchanges and digital asset service providers are advised to start preparing their applications for the Australian Financial Services licensing regime.

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Information	Details
Geography	Australia
Countries	🇦🇺
Sentiment	positive
Relevance Score	1
People	Jonathon Miller, Adrian Przelozny, Adam Percy, Liam Hennessy, Caroline Bowler
Companies	Swyftx, Australian Treasury, Independent Reserve, Kraken Australia, BTC Markets
Currencies	None
Securities	None