Assistant Minister for the Treasury of Australia, Daniel Mulino, announced the introduction of a regulatory legislative proposal for digital asset platforms, aiming to extend financial services laws to crypto businesses. This move seeks to strengthen consumer protection and provide clear rules for the industry. The proposal adds two new entities under the Corporations Act: 'digital asset platforms' and 'tokenized custody platforms.' Operators will be required to apply for an Australian Financial Services License and meet requirements for custody, settlement, and dispute resolution. Mulino stated that this initiative is the 'cornerstone' of the government's digital asset roadmap, aiming to legitimize quality participants and eliminate poor ones. (Decrypt) https://www.(wublock123.com)/index.php?m=content&c=index&a=show&catid=6&id=49274