Australia Passes Digital Asset Framework Bill for Crypto Tokens and Platforms
According to Cointelegraph, the new law defines digital tokens and trading platforms under tailored financial rules and gives regulators expanded supervisory authority.
Summary
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Terms & Concepts
- Digital asset: A blockchain-based token or crypto asset used for transfer, investment, or platform-based activity.
- Regulatory framework: A set of legal and supervisory rules designed to govern how financial or crypto markets operate.
- Digital tokens: Blockchain-based units of value or utility issued on a network for payments, access, or other functions.