Australia to make regulatory changes to boost security in crypto sector

The government announced its plans to tighten regulations for crypto firms. In addition, the government plans to release a consultation paper to aid their decisions on the digital assets they want to regulate in 2023.

The Australian government will also reform the financial services laws for a more robust and secure digital asset space. The proposed consultation paper will be the basis of the country’s strategic plan for implementing the payments system come 2023.