tl;dr
Australia's regulators are planning to incorporate stablecoin legislation into the legislative bill for the digital assets sector. The Australian Securities and Investments Commission has been in discussions with global regulators, including the SEC, about their legal stances on cryptocurrency. The ...
Australia's regulators are planning to include stablecoin legislation into the legislative bill for the digital assets sector, with the Australian Securities and Investments Commission engaging in discussions with global regulators, such as the SEC, about their legal positions on cryptocurrency. The Australian Treasury aims to release draft legislation covering licensing and custody rules for crypto asset providers, potentially including a framework for regulating stablecoins. ASIC is actively monitoring overseas cases and has warned crypto entities to comply with established legal precedents. Additionally, ASIC plans to appeal recent judgments favoring crypto entities and has filed lawsuits against Binance Australia and eToro. The Digital Economy Council of Australia (DECA) has rebranded and will now include a membership category for banks.
The Australian Securities and Investments Commission has held meetings with regulators like the SEC about their legal positions on crypto. Australia's regulators have provided rare updates on their plans for the digital assets sector, including plans to introduce a draft framework for stablecoins and hinted that more enforcement is on its way against unlicensed entities during an event in Sydney. Australia's Treasury previously announced plans to release draft legislation to cover licensing and custody rules for crypto asset providers. Now, that draft could include a framework to regulate stablecoins.
A representative of the Australian Securities and Investments Commission said they had held meetings with regulators like the SEC about their legal positions on crypto. Australia's regulators have provided rare updates on their plans for the digital assets sector, including plans to introduce a draft framework for stablecoins and hinted that more enforcement is on its way against unlicensed entities during an event in Sydney.
"The digital asset platform reforms have been allocated a drafting spot with The Office of Parliamentary Counsel (responsible for drafting and publishing Australian laws) that would see the exposure draft released before the end of this year," said Chris Adamek, director of the Australian Treasury's digital asset policy unit.
"We are actively monitoring cases overseas and interacting regularly with our overseas peers," said Dr Rhys Bollen, senior executive leader of digital assets at ASIC. "We have run half a dozen (cases) already that interact with the digital assets and crypto assets base and we do have more."
"When did you last review the tokens that you list on your platform? When was the last time you reviewed the products and services that you are making available? How recently have you consulted with your lawyers about where the law currently sees the most current understanding based on cases over the last six months or so. If you haven't done that in the last four months you need to consider where you are," Bollen said.
"When did you last review the tokens that you list on your platform? When was the last time you reviewed the products and services that you are making available? How recently have you consulted with your lawyers about where the law currently sees the most current understanding based on cases over the last six months or so. If you haven't done that in the last four months you need to consider where you are," Bollen said.
Blockchain Australia has now rebranded to become the Digital Economy Council of Australia (DECA) and will include a membership category for banks.
More about Denali Capital Acquisition Corp. Class A Ordinary Shares
Denali Capital Acquisition Corp. Class A Ordinary Shares
Company: Denali Capital Acquisition Corp.
Headquarters: New York, New York
Industry: Real Estate & Construction, Blank Checks
Stock Symbol: 49773000
Current Price: $43.75
Change: $0.16
Percentage Change: 0%
Volume: 0
Market Cap: 0
Dividend Yield: 0%
Earnings per Share (EPS): None
Price-to-Earnings (P/E) Ratio: 1.051
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