Australia eyes A$14 million capital rule as crypto regulatory crackdown deepens
The proposed A$200,000 custody floor comes with asset and revenue tests and requirements for the outside custodian. Read the full story on CryptoSlate Understand the crypto stories that matter and what to watch next. Get The Catalyst in your inbox
AI summary
Australia is proposing stricter crypto custody rules, including a A$14 million capital requirement and a A$200,000 custody floor, along with asset and revenue tests for outside custodians. The move signals a deepening regulatory crackdown that could raise compliance costs for crypto businesses operating in the country. Traders should watch for similar measures in other jurisdictions, as tighter custody rules may reduce institutional participation and pressure prices.
