The Australian federal government is considering implementing new regulations that would require cryptocurrency exchanges to obtain a financial services license from the Australian Securities and Investment Commission (ASIC). The aim of these regulations is to protect consumers while still fostering innovation in the digital asset sector. The proposed framework focuses on regulating exchanges and service providers rather than individual cryptocurrencies or tokens. However, some industry experts have expressed concerns that this approach may overlook the unique aspects of the technology. Despite the suggestions put forth in the consultation paper, it is important to note that they are not legally binding recommendations. Additionally, the paper does not address pressing issues such as the difficulties faced by digital asset exchanges in securing banking arrangements. Further updates on this matter will be provided as they become available.

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Information	Details
Geography	Australia
Countries	🇦🇺
Sentiment	neutral
Relevance Score	1
People	Jonathon Miller, Liam Hennessey
Companies	Australian Securities and Investment Commission (ASIC), Kraken Australia, Clyde & Co
Currencies	None
Securities	None