Australia Sets New Rules: Crypto Firms Must Obtain Financial Licenses

Australia is taking considerable measures to regulate the cryptocurrency business, with the goal of improving consumer safety and reducing fraudulent activity.

The Australian Securities and Investments Commission (ASIC) has revealed intentions to compel cryptocurrency enterprises, including exchanges, to seek financial services licenses under the Corporations Act.

This decision comes amid growing worries about frauds and the need for an extensive monitoring of the fast changing digital asset sector.

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