An AFSL Mandate refers to the requirement for certain financial service providers in Australia to hold an Australian Financial Services License. This license is issued by the Australian Securities and Investments Commission (ASIC). It ensures that entities providing financial advice, dealing, or other services meet specific regulatory standards. The mandate covers a range of activities, including those involving digital assets.
Context
The application of the AFSL mandate to digital asset service providers remains a prominent discussion point in Australian regulatory circles. Different classifications of digital assets, such as securities or commodities, determine the precise licensing obligations. Regulatory bodies continue to clarify the scope and implications for crypto exchanges, custodians, and other market participants operating under this framework.
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