Australia's ASIC to enforce new crypto exchange licensing rules by Nov 2024 under Corporations Act for enhanced consumer protection and regulatory oversight.

Australia's securities regulator, ASIC, plans to enforce new licensing rules for cryptocurrency exchanges by November 2024. The regulations will require firms to obtain financial services licenses under the Corporations Act, aiming to enhance consumer protection and regulatory oversight. This initiative addresses concerns about market misconduct and aims to clarify which crypto assets are classified as financial products, promoting market stability.

September 23, 2024
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