One of the leading Australian crypto exchanges, BTC Markets announced today that it has become the first company of its kind to be awarded an Australian Financial Services License (AFSL).
The licence, issued to BTC Markets’ sister company BTCM Payments, will allow the company to get ready to offer crypto financial services provider in Australia with the upcoming regulations This is a major milestone for this crypto exchange, and it represents a significant step forward in the maturation of the cryptocurrency industry.
The news of BTC Markets’ AFSL comes as the Australian government is preparing to introduce new legislation that would bring cryptocurrencies under the regulatory purview of ASIC.
About BTC Markets
BTC Markets is one of the leading cryptocurrency exchanges in Australia. The exchange offers a wide range of digital assets, including Bitcoin, Ethereum, Chainlink, Stellar, Algorand, BitcoinCash, Litecoin, and Ripple. They also provide a fiat-to-crypto gateway, allowing users to buy and sell cryptocurrencies using Australian dollars.
About the Australian Financial Services License (AFSL)
The AFSL is a regulatory regime that is designed to protect consumers and promote confidence in the financial system. It is administered by the Australian Securities and Investments Commission (ASIC). To obtain an AFSL, businesses must demonstrate that they meet a number of stringent requirements, including having adequate resources, systems, and processes in place.
This article will not be giving advice for investment. It is strictly for educational purposes. Please consult your financial advisor when trading on leverage instruments, as we will not be liable for any losses incurred. Your capital may be at risk
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