Australia to Introduce Cryptocurrency Regulations in 2025

According to Odaily, the Australian government plans to release a draft of cryptocurrency regulations in 2025, collaborating with the country's four major banks to address the issue of debanking. The new framework will apply existing financial services compliance requirements to cryptocurrency exchanges and custody services, including customer asset protection, financial services licenses, and minimum capital requirements. Additionally, the government will review central bank digital currencies and launch an enhanced regulatory sandbox in 2025 to support businesses testing new financial products without a license. The Albanese administration emphasized its focus on the intersection of cryptocurrency and debanking to ensure Australia maintains a competitive edge globally.