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<div class="cryptonews">
 <p class="is-style-lead">The Australian treasury has released a consultation paper proposing a new <a rel="noopener noreferrer nofollow" title="regulatory" href="https://thebittimes.com/tag/regulatory.html">regulatory</a> <a rel="noopener noreferrer nofollow" title="framework" href="https://thebittimes.com/tag/framework.html">framework</a> for <a rel="noopener noreferrer nofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a>currency exchanges.</p>
 <p>The new legal <a rel="noopener noreferrer nofollow" title="framework" href="https://thebittimes.com/tag/framework.html">framework</a> will require <a rel="noopener noreferrer nofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a>currency companies to apply for a financial services license. The primary purpose of the new <a rel="noopener noreferrer nofollow" title="regulatory" href="https://thebittimes.com/tag/regulatory.html">regulatory</a> <a rel="noopener noreferrer nofollow" title="framework" href="https://thebittimes.com/tag/framework.html">framework</a> will be to protect investors without harming the growth of the <a rel="noopener noreferrer nofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a>currency ecosystem in Australia.</p>
 <p>The consultation paper explained that the country would regulate cryptocurrency players under pre-existing financial services laws.</p>
 <p>Cryptocurrency exchanges that hold over $3.2 million, or more than $946 per individual, must now register with the Australian Securities and Investment Commission (ASIC) and obtain an operating license.</p>
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 <h2 class="wp-block-heading" id="australia-s-crypto-stance">Australia’s crypto stance</h2>
 <p>The Australian government has taken several legislative actions to support the mainstream adoption of <a rel="noopener noreferrer nofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a>currencies. For example, the Australian treasurer’s removal of Goods and Services Taxes on digital currencies has treated <a rel="noopener noreferrer nofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a>currencies like Bitcoin as physical money in terms of taxation.</p>
 <p>Australia has also witnessed the rapid development of a crypto-based ecosystem, particularly in Brisbane. Plans are underway to integrate the flourishing tourism industry with cryptocurrencies, allowing visitors to pay for their travel using digital currencies.</p>
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/australia-releases-new-crypto-regulatory-framework-tbt66473.html">https://thebittimes.com/australia-releases-new-crypto-regulatory-framework-tbt66473.html</a></p>

Australia releases new crypto regulatory framework

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