Australia Proposes New Rules Requiring Crypto Exchange Licenses!

Author: Mustafa Mulla

Mustafa has been writing about Blockchain and crypto since many years. He has previous trading experience and has been working in the Fintech industry since 2017.

Oct 16, 2023 9:32

Australia is planning to introduce new rules requiring crypto exchanges to obtain licenses issued by the market regulator. The government proposal will mean digital-asset platforms holding over A$5 million ($3.2 million), or A$1,500 for an individual investor, must obtain a permit from the Australian Securities and Investments Commission. The measure aims to support the growth of digital assets while protecting consumers. Draft laws are expected in 2024, but the country is consulting on the new rules first.