Cryptocurrency exchanges in Australia will soon be required to hold a financial services license issued by the markets regulator as the country looks to support the growth of digital resources while protecting consumers.
A government proposal that builds on existing laws will mean digital asset platforms holding more than A$5 million ($3.2 million), or A$1,500 for an individual, will need to obtain a government permit. . Australian Securities and Investments Commission or ASIC, according to a Treasury department document Monday.
