Australia AFSL Rules Dey Target Crypto Exchanges, Stablecoins

Australia Treasury don release draft crypto regulations wey require say digital asset platforms (DAPs) and tokenised custody platforms (TCPs) must get Australian Financial Services Licence (AFSL). Under this AFSL licence proposal, crypto exchanges must follow conduct standards, custody rules and provide better disclosures. Companies fit face fines up to A$16.5 million or 10% of their annual turnover if dem do serious breach. Small operators wey dey process under A$10 million yearly or hold less than A$5,000 per client no go dey required. ASIC go dey oversee compliance. Public consultation dey run until 24 October 2025. Dem dey develop stablecoin licensing framework too. APRA fit oversee issuers under new stored-value facilities regime, ASIC don license AUDM and AUDF, while Coinbase wan add AUDD. Industry leaders dey happy with the clear AFSL licence and stablecoin framework, as e go help protect consumers well, keep market stable and reduce regulatory uncertainty.