Australia Brings Crypto Platforms Under Financial Services Law

Published at 2025-11-27 05:15:07

The federal government has moved to regulate cryptocurrency exchanges and custody providers under existing financial services law, with the Australian Securities and Investments Commission (ASIC) designated as the lead regulator. The framework requires covered firms to meet licensing, disclosure and compliance obligations similar to other financial services, and strengthens AML/KYC and custody standards.

The change is intended to increase consumer protection and legal clarity, making it easier for institutional investors and retail users to assess counterparty risk. While firms face new compliance costs and registration steps, the clearer rules aim to reduce regulatory fragmentation and support market confidence and growth. Industry participants should expect transitional arrangements and guidance from ASIC as firms adapt to the new regime.

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Coinbase said it is collaborating with leading U.S. banks on stablecoin projects and pilot crypto services, with CEO Brian Armstrong noting banks are "leaning into this as an opportunity." The move reflects a growing, if cautious, Wall Street interest in crypto infrastructure.

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Published at 2025-12-03 17:15:09

Dogecoin Activity Surges 10,187%, Ending Five-Day Slide

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