Australia’s government has announced plans for a new crypto regulation framework, set to be introduced in 2025, requiring crypto exchanges to adhere to established financial services laws.

Small platforms and non-financial digital asset entities will be exempt from these regulations, while measures to address de-banking with the four largest banks will also be prioritized.

The government will review a possible central bank digital currency and establish an Enhanced Regulatory Sandbox for 2025, allowing businesses to develop new financial products.