The Australian Parliament is the national legislative body of Australia. It comprises the King, represented by the Governor-General, the Senate, and the House of Representatives. This institution is responsible for enacting laws, including those pertaining to financial regulation and digital assets. Its decisions significantly influence the operational environment for cryptocurrency businesses and investors across the nation.
Context
The Australian Parliament is actively considering various legislative approaches to regulate digital assets and blockchain technology. Debates often focus on balancing innovation with consumer protection and financial stability concerns. Upcoming parliamentary sessions are anticipated to bring further clarity and potentially new legal frameworks for the crypto sector.
The new Australian framework mandates AFSL compliance for digital asset custodians, closing a significant regulatory gap and formalizing operational risk controls.
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