Australia outlines its cryptocurrency regulatory plan, promising to take de banking actions

Odaily Planet Daily News: The Australian government plans to release a draft of cryptocurrency regulatory regulations by 2025 and promises to collaborate with the four major banks to address the issue of de banking. The new framework will implement compliance requirements of existing financial services laws for cryptocurrency exchanges, custodial services, etc., including customer asset protection, financial service licenses, and minimum capital requirements. In addition, the government will review central bank digital currencies and launch an enhanced regulatory sandbox by 2025 to support businesses in testing new financial products without a license. The Albanese government also stated that it will focus on the combination of cryptocurrency and decarbonization issues to ensure that Australia maintains its advantage in global competition. （Cointelegraph）