Definition ∞ Intermediary licensing involves regulatory authorization required for entities that facilitate transactions or provide services between parties in financial markets. This process ensures that brokers, exchanges, and other financial service providers adhere to specific operational, capital, and conduct standards. In the digital asset sector, it aims to establish accountability, mitigate risks, and protect consumers within centralized platforms.
Context ∞ The current debate around intermediary licensing in the digital asset space addresses the extent to which traditional financial regulations should apply to cryptocurrency exchanges and custodians. Regulators seek to establish clear frameworks that prevent illicit activities while supporting innovation. Future policy efforts will likely focus on harmonizing licensing requirements across different jurisdictions to address the global nature of digital asset operations.
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