In accordance with TheCCPress, Australia has expanded its financial laws to include digital assets, including stablecoins and tokenized assets, under the regulation of the Australian Securities and Investments Commission (ASIC). The new rules, effective this week, impose higher compliance, custody, and capital requirements on digital asset platforms, potentially affecting market dynamics and corporate strategies. The update does not introduce new laws but redefines regulatory boundaries, mandating higher capital reserves for firms handling these assets and impacting operational models. Market reactions suggest potential shifts for cryptocurrencies like ETH and BTC, as well as DeFi tokens. Industry leaders have not yet publicly responded, but the focus on local compliance indicates a strategic effort to govern offshore projects serving Australian users.
Australia Expands Financial Laws to Cover Digital Assets
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