Australia to regulate digital asset platforms

Australia to regulate digital asset platforms

Regulating digital asset platforms - Australia
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What is this about?
The Australian government intends to introduce a regulatory framework to address consumer harms in the crypto ecosystem while supporting innovation.

The introduction of a regulatory framework for entities providing access to digital assets and holding them for Australians and Australian businesses is an important step in the government’s approach to crypto reform in the Australian context.

The proposed regulatory framework would apply to digital asset platforms that present similar risks to entities that operate in the traditional financial system. It proposes to leverage the Australian financial services framework to regulate digital asset platforms to ensure consistent oversight and safeguards for consumers.

The government seeks views from interested parties on the proposed framework for regulating digital asset platforms. Specific consultation questions are outlined within the paper.

Responding
You can submit responses to this consultation up until 01 December 2023. Interested parties are invited to comment on this consultation.
While submissions may be lodged electronically or by post, electronic lodgement is preferred. For accessibility reasons, please submit responses sent via email in a Word or RTF format. An additional PDF version may also be submitted.


All information (including name and address details) contained in submissions will be made available to the public on the Treasury website unless you indicate that you would like all or part of your submission to remain in confidence. Automatically generated confidentiality statements in emails do not suffice for this purpose. Respondents who would like part of their submission to remain in confidence should provide this information marked as such in a separate attachment.

Legal requirements, such as those imposed by the Freedom of Information Act 1982, may affect the confidentiality of your submission.

Key Documents

• Proposal paper:  PDF Format - WORD Format 
• Factsheet:  PDF Format - WORD Format 

How To Respond

• Email - [email protected]

 

• Post - Address written submissions to:

Director, Crypto Policy Unit
Financial System Division
Treasury
Langton Cres
Parkes ACT 2600

Further Reading: https://treasury.gov.au/consultation/c2023-427004