Australian Regulators Want Crypto Exchanges To Hold Financial Services Licenses

Quick Summary:

Under the new rule, all such firms will be required to hold financial services licenses so that a close eye can be kept on the fast-growing digital asset market.

He argued that Australia “has gone from crypto leader to crypto laggard” in the past two and half years.

The Australian Securities and Investments Commission (ASIC) stated that it is worried about the effectiveness of the current regulatory framework in dealing with the complexities of popular cryptocurrencies like Bitcoin and Ether.

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Article Details

Author / Journalist: Nidhi Kolhapur

Category: Crypto

Markets: United StatesAustralia

Topics: Crypto Regulations Crypto news News

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-09-23 @ 11:55:33 (4 days ago)

News Timezone: GMT +8:00

News Source URL: coinpedia.org

Language: English

Article Length: 398 words

Reading Time: 3 minutes read

Sentences: 25 lines

Sentence Length: 16 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Coinpedia

News ID: 22654818

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Main Topics: Crypto

Official Website: coinpedia.org

Update Frequency: 19 posts per day

Year Established: 2016

Headquarters: United States

News Last Updated: 9 hours ago

Coverage Areas: United States

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