Altcoins News
By Julie Binoche
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Industry Split on New Rules. Crypto companies can't agree on whether the new rules help or hurt.
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What Happens Next. ASIC plans to release detailed guidelines next month covering application procedures and…
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Australia's government dropped new rules Thursday. Crypto exchanges and custody platforms now need financial services licenses within six months, and the clock's ticking fast.
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The Australian Securities and Investments Commission will run the whole licensing show. Companies have until October 1, 2026 to submit their applications - miss that deadline and…
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Crypto companies can't agree on whether the new rules help or hurt. Some firms think licensing legitimizes the whole industry and brings respectability.
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BitTrade, a Sydney-based exchange, isn't thrilled about compliance costs. CEO Alice Wong said the licensing process will be "challenging but necessary for consumer trust.
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The divide runs pretty deep. Larger exchanges with deeper pockets seem more optimistic, while smaller startups are sweating the financial burden.
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The government isn't backing down despite pushback from some corners. A Treasury spokesperson said the regulation aligns with global efforts to regulate digital finance, pointing…
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The new licensing mandate fits into Australia's broader push to regulate digital currency more effectively.
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Earlier this year, the Reserve Bank of Australia released a report highlighting the need for comprehensive oversight in digital assets.
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Smaller platforms might struggle with compliance costs though. According to the Australian Financial Review, smaller firms could face expenses exceeding AUD 500,000 to meet…
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The regulatory move aligns Australia's crypto industry with international standards. Europe and the US have been moving toward similar frameworks as global interest in digital…
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ASIC already started preparing for an influx of applications from crypto exchanges. Commissioner Sean Hughes said on April 1, 2026 that the agency is boosting resources to handle…
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CoinJar, one of Australia's prominent crypto platforms, announced plans to expand its compliance team in response to the new legislation.
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The Australian Taxation Office is expected to release guidance on how licensing changes might impact reporting obligations for crypto transactions.
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