The Australian government is beefing up its oversight of the crypto industry in a 'multi-stage' plan, which includes upping the headcount of its market regulator's digital assets team.
One of the main changes will be an increase in the size of the Australian Securities & Investments Commission ’s digital assets team and “upping enforcement measures.”
Cointelegraph reached out to ASIC to find out how many additional positions will be filled but did not receive an immediate response. Consumer protection will also be bolstered when a framework is finalized to regulate the licensing and custody of digital assets to “ensure consumers are protected from avoidable business failures or from the misuse of their assets by service providers.”
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