BTC Markets First Crypto Firm To Win Australian Financial Services License
Modified Date:- Published Date:-Categories: Bitcoins
Australian cryptocurrency exchange BTC Markets announced on Tuesday that it is to obtain the Australian Financial Services License (AFSL) from the Australian Securities and Investments Commission (ASIC). BTC Markets says the license will enable them to further bridge the gap between crypto and traditional finance. “Our priority has always been to own our own AFSLs rather than buy existing AFSLs from license holders,” Carolyn Bowler, CEO of BTC Markets, said in a statement. While AFSL is not required to operate a crypto exchange in the country, holders have the right to advise, create and deal in financial products. The license was issued through BTC Markets sister company BTCM Payments, which has been appointed as an authorized representative. The Government of Australia recently concluded an industry consultation on crypto licensing and custody requirements in the country. Findings have not been reported as of press time.