Is the Australian federal government going the way of the US’ initiatives?

Written by James Tylee founder of Cyber.FM

Anyone who listens to the Digital Bytes Podcast on TeamBlockchain.net or at Cyber.FM already know that I tend to stay “non-optimistic” about the handling of the Securities and Exchange Commission’s “sue now, clarify and regret later” strategies. So, it wouldn’t be fruitful to reiterate any of that here but, as of this week, news has come out of Australia. The Australian federal government is advancing its efforts to oversee the digital asset sector, specifically by considering the imposition of a mandatory financial services license from the local financial regulator for cryptocurrency exchanges. In the recently unveiled document titled "Regulating Digital Asset Platforms," released on October 15th, the Australian Treasury outlined its commitment to creating a regulatory framework that balances safeguarding consumers and the fostering of innovation within the digital asset industry. Exchanges holding more than $5million in aggregate, or more than $1500 for any individual, will have to…