The Australian Securities and Investments Commission (ASIC) plans to use the same principles to regulate cryptocurrency exchanges it uses for more mainstream entities.
In its corporate plan for 2018–2022, ASIC said it will apply “the principles for regulating market infrastructure providers to crypto exchanges.”
It also says it will monitor emerging products such as initial coin offerings and will intervene where “there is poor behavior and potential harm to consumers and investors.”
Currently, cryptocurrency exchanges in Australia are required to comply with know-your-customer and anti-money laundering standards enforced by Austrac, the country’s financial intelligence agency, according to CoinDesk. Read more here.