Australia drafts legislation to strengthen regulation of digital asset platforms

Jinse Finance reported that Australia has released a legislative draft to regulate digital asset platforms. This framework aims to extend financial services laws to cryptocurrency businesses in order to strengthen consumer protection and provide clarity for the industry. Assistant Treasurer Daniel Mulino announced these reforms on Wednesday at the Australia Global Digital Asset Regulation Summit. He described the bill as the "cornerstone" of the digital asset roadmap released by the government in March, and stated that it will keep Australia in line with its international peers.