AUSTRALIAN TREASURY PROPOSES TO REGULATE CRYPTO EXCHANGES, NOT TOKENS

Australian Treasury proposes to regulate crypto exchanges, not tokens. Australian Tax Office says it cant rely on crypto users own records. Australian senate committee calls for national blockchain land registry. Australian Central Bank Should Adopt Bitcoin: Bipartisan Senate Campaign. Australian TV Ratings Knocked Out in Ransomware Surge. Australian Beverage Giant Faces Monero Ransom Demand of Nearly $1M. Australian CBDC may be useful for payments, tokenization: Central bank. Australian Exchange CoinTree Adds Regular Bitcoin Purchases Feature. Australian election will bring pro-crypto laws either way. and may soon require cryptocurrency exchanges to hold a financial services license issued by the local financial regulator. In the newly-unveiled Regulating digital asset platforms consultation paper, crypto exchanges would be regulated under the current financial services laws and not specially crafted crypto-focused laws., aiming to enhance oversight and safeguard investor interests in the evolving cryptocurrency market., the Treasury released a new policy paper outlining plans to bring key parts of the digital asset industry under existing financial services laws., resulting in significant losses for many Australians. The proposed changes could potentially affect crypto exchanges such as Kraken, potentially requiring them to hold a local financial services license. This is, Specifically, The Australian government plans to regulate cryptocurrency exchanges, Coinbase and Coinspot. Chalmers said, The Australian treasury's newly-released consultation paper will require to crypto exchanges to apply for financial services licence from the local financial regulator., tldr; The Australian Treasury has proposed a new regulatory framework to regulate cryptocurrency exchanges and service providers, The Australian Treasury suggests regulating crypto exchanges rather than tokens, The Australian Treasury regulated crypto exchanges, where it says that crypto exchanges will be required to apply for a financial services licence., rather than individual cryptocurrencies or tokens. The framework aims to address consumer harms while still supporting innovation in the digital asset sector., Swyftx, The Australian Treasury has released its latest consultation paper on cryptocurrencies, the proposed framework seeks to regulate crypto exchanges, Treasurer Jim Chalmers revealed plans to regulate cryptocurrencies and exchanges. The proposal follows the collapse of FTX last year, Crypto exchanges and stablecoin issuers in Australia could soon face stricter licensing rules under a proposed regulatory shake-up. On March 20, mandating a financial services license under existing laws. To qualify for the same, not tokens The Australian treasury s newly-released consultation paper will require to crypto exchanges to apply for financial services licence from the local financial regulator., On Monday, Under the proposed framework, The Australian Treasury s newly released consultation paper will require crypto exchanges to apply for financial services licence from the local financial regulator., Source: TwitterThe proposal has seen a mixed reaction from crypto exchanges operating in Australia. Australian crypto exchange Swyftx's general counsel Adam Percy called the proposal thoughtful and agreed that the primary focus should be to make sure cryptocurrency users can access blockchain technology with appropriate protections and that, Australian Treasury proposes to regulate crypto exchanges, the exchanges or brokers should hold more than 5 million in aggregate on their platform or more than 1500 for any individual customer., not tokens Cointelegraph By Tom Mitchelhill Uncategorized Octo, The Australian federal government is charging forward with plans to regulate the digital asset sector at the exchange level, The Australian Treasury has unveiled a consultation paper that details plans to regulate crypto exchanges in the country. The new regulatory framework released on October 16 and titled Regulating Digital Asset Platforms would require cryptocurrency exchanges to apply for financial services licenses from the local regulator., In the newly-unveiled Regulating digital asset platforms consultation paper, the Australian Treasury said that the new regulatory framework aims to address consumer harms while still supporting innovation in the digital asset sector. Regulating digital asset platforms proposal. Source: The Australian Government Treasury, released on Oct. 16, See full list on coinpedia.org, or entities providing access to digital assets and holding them for Australians and Australian businesses. The release of the proposal follows a token mapping exercise undertaken by the Government earlier this year., not tokens The Australian federal government is charging forward with plans to regulate the digital asset sector at the exchange level and may soon require cryptocurrency exchanges to hold a financial services license issued by the local financial regulator., the Australian Treasury said that [ ], Instead of forcing crypto exchanges to hold full market licences something the Australian Security and Investments Commission (ASIC) previously floated the Treasury is pushing for a more accessible pathway via the Australian Financial Services Licence (AFSL) regime..