Australia is stepping up pressure on crypto businesses as a key regulatory deadline approaches. According to CoinDesk, firms that fail to meet the new requirements could be in breach of financial services law starting Oct. 1. The report says those companies may face either civil or criminal penalties if they miss the deadline. The latest move points to a tougher compliance environment for crypto firms operating in the country, with the Oct. 1 cutoff now at the center of the regulatory push.
Australia is increasing scrutiny of crypto businesses as a new regulatory deadline draws closer. According to CoinDesk, firms that miss the deadline could breach financial services law from Oct. 1 and face civil or criminal penalties.
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