There is increasing focus from government and regulators on crypto-asset regulation and risks financial institutions face in providing services in this area.
The Federal Government is consulting on a proposed new licensing regime for crypto-asset secondary service providers (CASSPrs) and new requirements regulating custody of crypto assets. The government is also seeking early views on how crypto assets should be defined and categorised as part of a 'crypto mapping' exercise. The consultation period runs until 27 May 2022.
Both APRA and AUSTRAC have also recently issued guidance to their regulated entities about crypto-assets. AUSTRAC's guidance in particular addressed the emerging financial crime risks related to digital currency and crypto assets.
Tune in to this webinar to hear Allens experts - Simun Soljo, Partner; Kerensa Sneyd, Partner and Victoria Eastwood, Senior Associate - provide a deep dive into the legal and regulatory issues facing financial services organisations when offering services relating to crypto, and what the new obligations could mean for all participants in the crypto asset 'ecosystem'.