From Cointelegraph.com

May 5, 2025 01:32 AM:

The Australian crypto industry urges the reelected Labor government to prioritize digital asset legislation. Incumbent Labor Party won with 54.9% of the vote, promising crypto law reform. Binance and Coinbase call for action. Exposure draft legislation to be released this year for consultation. Industry evolution noted in government’s positive approach to crypto.

Treasury plans to regulate digital asset platforms and stablecoins using AFSL regime. Enhanced Regulatory Sandbox to support digital asset startups. Emphasis on tokenization opportunities. Positive feedback from industry experts. ASIC released crypto regulations proposals in December. Draft guidance distinguishes financial products like NFTs and stablecoins. Addressing debanking issues crucial for industry stability. Clean licensing framework needed for banks’ comfort.

Read more at Cointelegraph: Industry calls for urgent crypto law reforms after Australian election