Australia Accelerates Integration of Digital Assets into Economy, Introduces Licensing for Cryptocurrency Exchanges

The Australian government is preparing new regulations to integrate and regulate digital assets within its economy.

On the 21st, cryptocurrency-focused media outlet Cointelegraph reported, "The Australian Treasury plans to experiment with tokenized assets and payment infrastructure, and expand asset accessibility through an integrated approach where various government departments share the study of different aspects of digital assets." This regulation draws on policies from the European Union (EU) and Singapore, comprehensively addressing tokenization, real-world asset (RWA) central bank digital currency (CBDC) regulations.

In a white paper, the Australian Treasury assessed, "The asset tokenization market can increase automation levels, reduce payment risks, and ease reliance on complex intermediary structures," adding that "accessibility to traditionally illiquid assets can also be expanded."

Additionally, the Australian government plans to define cryptocurrency exchanges as Digital Asset Platforms (DAP) and introduce a new licensing system.