The Australian government is proposing a new regulation that would require cryptocurrency exchanges to obtain a license from the country’s financial services regulator in order to operate. Under the proposal, digital asset intermediaries would need to obtain an Australian financial services license from the Australian Securities and Investments Commission (ASIC) to issue and deal in digital asset facilities. However, intermediaries holding assets valued at less than $5 million AUD would be exempt from this requirement. The proposal also includes crypto brokers and other dealers in the licensing regime. The burden of combating market misconduct, such as market manipulation and false trading, would be placed on crypto exchanges. They would be required to have listing criteria for products available on their platforms and provide sufficient disclosures for digital asset transactions. This proposal aims to regulate the cryptocurrency industry in Australia and protect investors.

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Information	Details
Geography	Australia
Countries	🇦🇺
Sentiment	neutral
Relevance Score	1
People	None
Companies	Australian Securities and Investments Commission (ASIC)
Currencies	None
Securities	None