Australia Plans To Require Cryptocurrency Exchanges To Hold Financial Services Licenses


This article has been republished with permission from Binance News.

According to Foresight News, Australia is planning to require cryptocurrency exchanges to hold financial services licenses issued by market regulators. Under a government proposal based on existing laws, digital asset platforms holding over AUD 5 million (approximately USD 3.2 million) or individuals holding more than AUD 1,500 must obtain permission from the Australian Securities and Investments Commission (ASIC). The rules will also include standards for custody in trading.

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