While the license isn’t needed right now, BTC Markets says it will keep it ahead of the pack when crypto companies are eventually regulated downunder.
An Australian Financial Services license allows the holder to give advice, deal in, and create a market for a financial product. It also permits the provision of custodial or depository services, amongst other perks.the lack of regulation in the country
, BTC Markets says the move allows it to more closely bridge the gap between traditional finance and crypto while offering new products to its customers. It marks the end of an almost two-year wait for the firm for the AFS license, which was registered in August 2020. BTC Markets has certification from the International Organization for Standardization for information security management and isBTC Markets CEO Catherine Bowler said the license would prepare her exchange business for what she believes isRelated:BTC Markets has established itself as a key player in the Australian crypto industry with $US4.7 million in daily volume, according to CoinGecko.
In February, the exchange signed a deal with the stock market trading platform SelfWealth to offer SelfWealth users access to trade Bitcoin (
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