#美SEC和CFTC加密监管合作# Recently, the Australian government announced an important legislative proposal regarding the digital asset sector, aiming to bring crypto asset exchanges and digital asset platforms under the regulation of the Corporations Act. The proposal requires relevant platforms to hold an Australian Financial Services License (AFSL), marking a new phase in Australia's crypto regulation.

The main purpose of this reform is to strengthen consumer protection and ensure that crypto platforms adhere to conduct codes and custody standards similar to those of traditional financial service institutions. According to the draft, cryptocurrency exchanges will need to register with the Australian Securities and Investments Commission (ASIC), and violators will face fines of up to 16.5 million AUD; however, smaller platforms with lower risk may be granted relevant exemptions.

The draft legislation introduces two new definitions for financial products: digital asset platforms and tokenized custody platforms. The draft particularly emphasizes the transparency of custody standards and settlement processes, attempting to reduce the risks of asset loss and improper business conduct through these measures. The establishment of this regulatory framework is expected to encourage the development of compliant platforms while eliminating high-risk operators, thereby maintaining a healthy ecosystem for the entire industry.

It is worth noting that this legislation is not aimed at all Crypto Assets-related companies, but mainly affects platforms providing Financial Services and custodial service providers, excluding Crypto Assets issuers and non-financial token creators. Currently, the Australian Transaction Reports and Analysis Centre (AUSTRAC) has about 400 registered exchanges, but many of them are not active, and the new legislation will impose stricter regulations on these platforms.

Currently, the Australian Treasury is in the public consultation phase and will finalize the legal details after collecting industry feedback. This draft establishes a clear compliance framework for crypto platforms, which is expected to reduce market risks and enhance user trust. At the same time, the new regulatory environment will provide the industry with a more transparent and stable development space, promoting innovation while ensuring safety.

As a sign of the maturation of the Australian Crypto Assets industry, this legislative proposal will provide important guarantees for the long-term healthy development of the industry. Stakeholders in the industry should actively participate in the feedback process to jointly improve the final rule-making.

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