Bloomberg Tax
Feb. 2, 2023, 11:41 PM

Australian Regulators Strengthening Enforcement Action on Crypto

Victoria Batchelor
Victoria Batchelor
Bloomberg News

Regulators are strengthening their focus on crypto asset providers to make sure they meet their obligations to Australian consumers, the government said in an emailed statement.

  • The Australian Securities & Investments Commission is increasing the size of its crypto team and is upping enforcement measures
    • The regulator will take legal action where it identifies crypto offerings being marketed without the appropriate credit or financial services license
    • ASIC will pay particular attention to ensuring that risks to consumers are appropriately disclosed
  • The government will reform the licensing and custody of cryptoassets, particularly for the subset of cryptoassets that currently fall outside ...