In late March 2022, in the opening hours of Blockchain Week, Minister Jane Hum announced that the Australian Government had released a consultation paper which proposed a new regulatory and licensing regime for ‘crypto asset secondary service providers’ (CASSPrs). This followed a call by Senator Andrew Bragg earlier that day for crypto reforms to be consolidated into a comprehensive legislative package (including a ‘Digital Services Act’). A write-up concerning these proposals may be found here.
Australia: New Regulatory Framework for Crypto Assets Proposed
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Bill Fuggle
Bill Fuggle is a partner in the Sydney office of Baker McKenzie where he is a leading adviser in innovative listed investment products, fintech and neobanks, financial services regulatory advice, fund formation and capital markets. Bill brings together his deep experience in the financial services industry with his subject matter expertise in financial services law to create legal solutions and structures that have helped drive forward the Australian financial products and capital markets landscape.
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Alan Darwin
Alan is a special counsel in Baker McKenzie's Financial Services & Funds team in Sydney. Alan advises corporates, investment banks, financial product platform providers, superannuation trustees, responsible entities, investment managers, financial advisers, brokers and intermediaries on a range of areas relating to financial services, financial products, financial markets and related regulatory issues. His practice is focused on acting for financial market participants on the development, operation and distribution of financial products (including complex financial products using derivatives and digital assets) and providing advice to clients in respect of their obligations under the financial services laws. He has extensive experience in investment banking regulatory compliance, derivatives, structured products, investment lending, managed investment schemes and superannuation products.