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Australia is working on establishing a regulatory framework for the crypto sector to enhance consumer protection and reduce risks. Certain crypto firms will need to obtain an Australian Financial Services License (AFSL) to operate legally, with new rules to address specific digital asset risks. Broader reforms include a Crypto Asset Reporting Framework (CARF) and exploring a Central Bank Digital Currency (CBDC). The Enhanced Regulatory Sandbox (ERS) will also undergo review in 2025.
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