Australian Government Moves to Regulate Crypto and Digital Assets

The proposed reforms would apply to entities providing Australians and businesses access to digital assets, such as cryptocurrencies, NFTs and other tokens.

Representations of cryptocurrency Bitcoin, Ethereum, and Dash plunge into water in this illustration taken on May 23, 2022. Dado Ruvic/Reuters/Illustration

The Australian government released crypto and digital asset regulation recommendations to safeguard consumers on Oct. 16. 

The proposed reforms (pdf) would apply to entities providing Australians and businesses access to digital assets, such as cryptocurrencies, NFTs, and other digital tokens.