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<ul class="wp-block-list news-points">
 <li>Australia’s central bank prioritizes wholesale CBDC development, launching Project Acacia.&nbsp;</li>
 <li>ASIC introduces a new crypto licensing regime to boost regulatory clarity and investor protection.&nbsp;</li>
 <li>Crypto firms in Australia will now need to obtain licenses and comply with stricter standards.</li>
</ul>
The Reserve Bank of Australia recently announced it’s prioritizing the issuance of a wholesale central bank digital currency (CBDC) over a retail CBDC, stating that a clear business case for the latter hasn’t yet emerged.
In addition, the bank pledged its commitment to a 3-year applied research program on the future of digital money in Australia, called <a href="https://www.rba.gov.au/media-releases/2024/mr-24-17.html" target="_blank" rel="noopener noreferrer nofollow">Project Acacia</a>.
<h2 class="wp-block-heading" id="h-australia-s-crypto-industry-faces-new-licensing-rules">Australia’s Crypto Industry Faces New Licensing Rules</h2>
In yet another related development, Australia’s securities watchdog, ASIC, is gearing up to introduce a <a href="https://www.afr.com/companies/financial-services/asic-wants-crypto-start-ups-to-hold-financial-services-licences-20240920-p5kc6t#:~:text=The%20crypto%20industry%20should%20prepare,within%20the%20next%20two%20months" target="_blank" rel="noopener noreferrer nofollow">new licensing regime</a> for the nation’s crypto sector. This move aims to bring digital assets under the umbrella of Australia’s existing financial regulations, requiring companies operating in the crypto space to obtain licenses.
<a href="https://coinedition.com/bitcoin-to-skyrocket-with-regulatory-clarity-predicts-cantor-ceo/" rel="noopener noreferrer nofollow">Read also: Bitcoin to Skyrocket with Regulatory Clarity, Predicts Cantor CEO</a>
In a recent summit, ASIC Commissioner Ala…
The post <a href="https://coinedition.com/australia-prioritizes-wholesale-cbdc-project-acacia-unveiled/" rel="noopener noreferrer nofollow">Australia Prioritizes Wholesale CBDC, Project Acacia Unveiled</a> appeared first on <a href="https://coinedition.com" rel="noopener noreferrer nofollow">Coin Edition</a>.

Australia Prioritizes Wholesale CBDC, Project Acacia Unveiled

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