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