Close Menu
  • Coins
    • Bitcoin
    • Ethereum
    • Altcoins
    • NFT
  • Blockchain
  • DeFi
  • Metaverse
  • Regulation
  • Other
    • Exchanges
    • ICO
    • GameFi
    • Mining
    • Legal
  • MarketCap
What's Hot

Bitcoin Slides Below $106K; Analyst Sees Ether Breakout Looming

07/07/2025

Cardano Founder Promises Audit to Debunk Claims of Misappropriating $600M in ADA Tokens

06/07/2025

USDC Stablecoin Arrives on Hippo Chain Testnet

06/07/2025
Facebook X (Twitter) Instagram
  • Back to NBTC homepage
  • Privacy Policy
  • Contact
X (Twitter) Telegram Facebook LinkedIn RSS
NBTC News
  • Coins
    1. Bitcoin
    2. Ethereum
    3. Altcoins
    4. NFT
    5. View All

    Bitcoin Slides Below $106K; Analyst Sees Ether Breakout Looming

    07/07/2025

    SEC Commissioner Hester Peirce Says “We Can’t Ignore It” in Bitcoin 2025 Fireside Talk 

    06/07/2025

    Is BTC’s Rally Sustainable or Due for a Pullback?

    06/07/2025

    Former PayPal CEO Makes Exciting Predictions About Bitcoin

    06/07/2025

    Tom Lee Says Ethereum Could Be the Next Bitcoin

    05/07/2025

    Why Is Ether Struggling Near $2,400 Even as More Firms Add ETH to Their Treasuries?

    05/07/2025

    Ethereum dev Zack Cole launches initiative to fund ‘tokenless’ projects, promote ETH burning mechanisms

    05/07/2025

    Ethereum (ETH) Price Prediction for July 3

    05/07/2025

    Cardano Founder Promises Audit to Debunk Claims of Misappropriating $600M in ADA Tokens

    06/07/2025

    Charles Hoskinson Confirms Cardano–Litecoin Collaboration for DeFi Expansion

    06/07/2025

    Chainlink CCIP Launches on Solana, Linking $19B in Assets

    06/07/2025

    Ripple CEO Reacts to Major XRP Milestone

    06/07/2025

    Top NFTs Trending Today, Courtyard Leading the Pack

    06/07/2025

    NFT Market Sees Recovery, Records 17.23% in Weekly Sales, Guild of Guardians Leads Sales with $29.61 Million

    05/07/2025

    You Can Buy a Martian Meteorite With Bitcoin—If You Have Upwards of $4 Million

    04/07/2025

    Cheaper NFTs Mean Sales Are Surging, But Trading Volume is Plummeting: DappRadar

    04/07/2025

    Bitcoin Slides Below $106K; Analyst Sees Ether Breakout Looming

    07/07/2025

    Cardano Founder Promises Audit to Debunk Claims of Misappropriating $600M in ADA Tokens

    06/07/2025

    USDC Stablecoin Arrives on Hippo Chain Testnet

    06/07/2025

    SEC Commissioner Hester Peirce Says “We Can’t Ignore It” in Bitcoin 2025 Fireside Talk 

    06/07/2025
  • Blockchain

    USDC Stablecoin Arrives on Hippo Chain Testnet

    06/07/2025

    Aicean and MOMO.FUN Join Forces for Web3 Innovation: AI Meets MemeFi

    06/07/2025

    Ispoverse Taps Conflux Blockchain for Scalable, Secure Web3 Gaming Infrastructure

    06/07/2025

    Bitget Wallet cuts on-chain TRON USDT transver costs by 50%

    06/07/2025

    SpoonOS and DBOS partner to support durable AI agent applications

    06/07/2025
  • DeFi

    DeFi Is outpacing Bitcoin’s maximalist mindset

    06/07/2025

    Janus Henderson Launches First Native Onchain AAA CLO Strategy

    06/07/2025

    ‘If I lose, DeFi dies with me:’ Tornado Cash co-founder doubles down on innocence ahead of trial

    05/07/2025

    Ethereum DeFi Project Ondo Aims to Take on Robinhood With Jump Into Tokenized Stocks

    05/07/2025

    Stablecoin banks like Erebor could inherit DeFi’s weakest links, says Web3 security firm

    04/07/2025
  • Metaverse

    Microsoft’s AI Diagnoses Like House, Bills Like Costco

    02/07/2025

    Mark Zuckerberg Unveils New Meta AI Lab After Poaching OpenAI Talent

    01/07/2025

    Can China’s MiniMax-M1 AI Topple US Rivals? We Put It to the Test

    28/06/2025

    Meta and OpenAI Use of Copyrighted Books for Training AI Was Fair Use: Federal Judge

    26/06/2025

    How to Get Your Chatbot to Talk Dirty

    18/06/2025
  • Regulation

    Circle IPO delivers 4x return for Sigil Fund

    05/07/2025

    Circle’s IPO success marks the start of crypto listing surge

    05/07/2025

    Saylor to Jim Chanos: Three ways your MSTR short is doomed

    05/07/2025

    Ripple’s Brad Garlinghouse Says Circle IPO Signals U.S. Stablecoin Regulation Ahead

    05/07/2025

    Bank of Korea Governor to Meet Bank Chiefs as Stablecoin Debate Heats Up

    05/07/2025
  • Other
    1. Exchanges
    2. ICO
    3. GameFi
    4. Mining
    5. Legal
    6. View All

    Stablecoins power 75% of crypto payments across Europe, report shows

    06/07/2025

    Coinbase is Driving Adoption of Circle’s USDC for Payments, Financial Services: Bernstein

    06/07/2025

    Robinhood’s OpenAI Token Transfer Linked to Wallet with Interesting On-Chain Past

    06/07/2025

    PancakeSwap Hits Record $325 Billion in Monthly Volume

    06/07/2025

    ICO for bitcoin yield farming chain Corn screams we’re so back

    22/01/2025

    Why 2025 Will See the Comeback of the ICO

    26/12/2024

    Why loyalty is becoming web3 gaming’s next essential layer

    06/07/2025

    FLOKI Advances Blockchain Gaming Ambitions With Valhalla Mainnet Launch and Esports Partnership

    05/07/2025

    Neural Expands to Solana with AI Game Creation Tools and Multi-Chain Support

    05/07/2025

    HeLa Space and Onmi Upgrade AR Gaming Experience with Web3 Adventure

    04/07/2025

    Satoshi’s Bitcoin Mining Costs Were Shockingly Low, Cardano Co-Founder Reveals

    06/07/2025

    Bitcoin Hashrate Revs up 88 EH/S Since the Low as Miners Race Toward Profitability

    06/07/2025

    Another Solo Bitcoin Miner Beats the Odds, Winning $350K Jackpot

    05/07/2025

    World Famous E-Sports Giant Announces It Will Enter Bitcoin Mining Industry! Here Are the Details

    05/07/2025

    Can The SEC Vote To Continue Appeals Process In Ripple Case?

    05/07/2025

    GENIUS Act and CLARITY Market Structure Bill

    05/07/2025

    Celsius advances in court against Tether for $4 billion

    05/07/2025

    After 5 Years Battling the SEC, Has XRP Come Full Circle?

    05/07/2025

    Bitcoin Slides Below $106K; Analyst Sees Ether Breakout Looming

    07/07/2025

    Cardano Founder Promises Audit to Debunk Claims of Misappropriating $600M in ADA Tokens

    06/07/2025

    USDC Stablecoin Arrives on Hippo Chain Testnet

    06/07/2025

    SEC Commissioner Hester Peirce Says “We Can’t Ignore It” in Bitcoin 2025 Fireside Talk 

    06/07/2025
  • MarketCap
NBTC News
Home»Regulation»Australia to introduce crypto regulation mandating licenses for crypto exchanges
Regulation

Australia to introduce crypto regulation mandating licenses for crypto exchanges

NBTCBy NBTC16/10/2023No Comments3 Mins Read
Share
Facebook Twitter LinkedIn Pinterest Email


The Australian federal authorities is about to introduce new rules requiring crypto exchanges to acquire a monetary providers license, the Australian Monetary Overview reported on Oct. 15.

Assistant Treasurer Stephen Jones is scheduled to unveil these long-anticipated guidelines throughout the Australian Monetary Overview Crypto Summit.

Based on the report, the federal government will give attention to the exchanges — subjecting them to present monetary providers legal guidelines — relatively than regulating particular person tokens or cryptocurrencies.

The brand new guidelines

Crypto exchanges holding greater than $5 million in mixture or exceeding $1,500 for any particular person person can be mandated to acquire an Australian Monetary Providers License (AFSL) issued by the Australian Securities and Investments Fee (ASIC).

The rules will compel exchanges to stick to stringent requirements, together with offering providers transparently and pretty, managing conflicts of curiosity, disclosing info, submitting monetary studies, and assembly solvency and money reserve necessities.

Moreover, asset custody guidelines can be enforced to reinforce shopper safety inside the sector.

Based on Treasury knowledge, one in 4 Australians collectively maintain billions of {dollars} value of cryptocurrencies by way of varied exchanges working within the nation — making it crucial to bolster shopper protections.

The transfer follows a collection of worldwide hacks and circumstances of poor danger administration, most notably the collapse of U.S.-based crypto trade FTX, which incurred important losses for roughly 30,000 Australians.

Extra measures for crypto

Recognizing the distinctive dangers related to cryptocurrencies, the federal government intends to introduce extra obligations for exchanges, reminiscent of standardizing contract kinds and implementing custody software program and token transaction requirements impressed by rules in Europe, Britain, Canada, and Singapore.

ASIC Chairman Joe Longo advised the Summit that regulating crypto is about establishing minimal requirements akin to conventional finance requirements. He burdened the significance of making use of shopper protections, together with “design and distribution obligations,” to the cryptocurrency sector.

Longo mentioned:

“Crypto have to be held accountable to the identical excessive requirements we anticipate of everybody else.”

Public session on the federal government’s plans will proceed till Dec. 1, with an publicity draft of the proposed laws set to be launched in 2024.

Crypto exchanges may have a 12-month transition interval to adapt to the brand new regulatory framework as soon as the foundations come into pressure.

NFTs to stay unregulated

Tokens that perform as monetary merchandise will fall underneath present company legal guidelines. In distinction, non-financial tokens, reminiscent of these utilized in video gaming and non-fungible tokens (NFTs), will stay unregulated.

Nevertheless, exchanges coping with non-financial tokens will nonetheless require AFSLs. The proposed rules may even impose sure obligations on actions reminiscent of buying and selling, staking, and fundraising for non-financial merchandise.

Whereas these rules goal to reinforce shopper safety, additionally they try to strike a steadiness that promotes innovation.

The Treasury acknowledged the rising position of blockchain know-how and tokenization in monetary markets and mentioned it goals to create rules that accommodate the rising tokenization of belongings.

ASIC’s Joe Longo reassured the business that the regulator shouldn’t be towards distributed ledger know-how, tokenization, or central financial institution digital currencies so long as they prioritize shopper safety.

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email
NBTC

Related Posts

Circle IPO delivers 4x return for Sigil Fund

05/07/2025

Circle’s IPO success marks the start of crypto listing surge

05/07/2025

Saylor to Jim Chanos: Three ways your MSTR short is doomed

05/07/2025

Ripple’s Brad Garlinghouse Says Circle IPO Signals U.S. Stablecoin Regulation Ahead

05/07/2025
Add A Comment

Comments are closed.

Top Posts
Get Informed

Subscribe to Updates

Get the latest news from NBTC regarding crypto, blockchains and web3 related topics.

Your source for the serious news. This website is crafted specifically to for crazy and hot cryptonews. Visit our main page for more tons of news.

We're social. Connect with us:

Facebook X (Twitter) LinkedIn RSS
Top Insights

Bitcoin Slides Below $106K; Analyst Sees Ether Breakout Looming

07/07/2025

Cardano Founder Promises Audit to Debunk Claims of Misappropriating $600M in ADA Tokens

06/07/2025

USDC Stablecoin Arrives on Hippo Chain Testnet

06/07/2025
Get Informed

Subscribe to Updates

Get the latest news from NBTC regarding crypto, blockchains and web3 related topics.

Type above and press Enter to search. Press Esc to cancel.