Australia’s financial watchdog seeks stiffer rules for crypto exchanges ahead of licensing deadline
Source: CoinDesk ·
From the source
The country’s regulator, ASIC, has proposed tougher rules to protect users’ digital assets, crypto trading and to safeguard the country’s financial stability. Australia's financial regulator proposed new standards for cryptocurrency exchanges and digital asset custodians, setting out how companies must protect customer funds, execute trades and meet financial requirements under laws that take effect next year. The Australian Securities and Investments Commission (ASIC) said it opened a consultation on the rules on Thursday, which would require affected firms to obtain or update their regulatory approval or license. The consultation closes on Nov. 27, with final guidance and standards expected in March 2027. The proposals mark the next step in Australia’s effort to bring crypto businesses under the same regulatory framework as traditional financial firms. Parliament passed the legislation in April, joining jurisdictions such as the European Union, Singapore and Hong Kong, which have…
BestAIBroker analysis
- Finance-aware sentiment: negative (-0.40 on a -1 to +1 scale).
- Event classification: OTHER.
- Market importance score: 27/100, weighting entity relevance, source credibility, multi-outlet coverage and recency.
- Symbols referenced: ASIC.