Australian Government Proposes Crypto Exchange Regulation, Seeks Feedback on Rules
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The Australian Treasury proposes regulating crypto exchanges, not tokens. Exchanges may need financial services licenses.
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The rules aim to protect consumers while supporting innovation. They regulate exchanges under existing laws.
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Exchanges like Swyftx call the proposal thoughtful. Kraken says it's disappointing and "shoehorning" crypto.
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Lawyers say the rules are still suggestions open to lobbying. They may not address pressing issues like de-banking.
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Feedback can be submitted until December 2023. The goal is to seek input on the proposed regulations.
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