Crypto Industry Backs Australia’s Draft Regulation

[kevin1]

Australia’s major crypto exchanges have welcomed the government’s move to tighten oversight, saying it strikes the right balance between innovation and protection.

Swyftx CEO Jason Titman said the sector had been expecting licensing requirements, adding: “I don’t think our industry should be frightened of high standards.”

OKX Australia CEO Kate Cooper called enforcement the real test, warning that licensed firms must not be undercut by unregulated players.

Crypto.com’s Vakul Talwar described the law as “long overdue,” noting it protects consumers without excessive red tape.

Meanwhile, Kraken’s Jonathon Miller said the draft gives investors certainty, but stressed the need to avoid a “one-size-fits-all” approach.

The Treasury has opened the legislation for consultation until October 24, with final rules expected after feedback is reviewed.

[Nahid Hossen]

Aussie exchanges backing tighter rules Swyftx & OKX say licensing is fine—real challenge is enforcing it equally. ️

[Rimon Khan]

Jason Titman: industry shouldn’t fear high standards Kate Cooper: enforcement is key so regulated firms aren’t undercut.