New proposal aimed at bringing crypto exchanges under review of laws
Treasurer Jim Chalmers recently unveiled a significant proposal aimed at bringing crypto exchanges and digital asset platforms under the purview of existing Australian financial services laws.
This proposal would also require platform operators to obtain an Australian financial services licence. Notably, the changes would apply to platforms holding over $1,500 of an individual’s assets or aggregating over $5 million.
To shed light on these proposed changes, we turn to Rebekah Blake, Head of Compliance at VentureCrowd, for insights into the rationale behind this initiative and the goals the Federal Government aims to achieve.
Rebekah discusses the motivations behind the Federal Government’s proposal and the key drivers for considering such regulatory adjustments.
The interview also explores the anticipated outcomes and objectives the government hopes to accomplish by implementing these changes in the cryptocurrency and digital asset sector.
