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While the license isn’t currently needed for crypto companies in Australia, BTC Markets says it is preparing the exchange for upcoming regulations, which may help it gain other complementary certifications.
The Reserve Bank of Australia has warned local investors that the speculative frenzy on crypto could soon dry up if policymakers and regulators step in.
“When you look under the hood on that, we've concluded that this is a major protocol shift for financial market infrastructure,” said Nigel Dobson, ANZ’s Banking Services Portfolio Lead.
Investors are worried the may not be able to recoup their funds from ACX, now that parent company Blockchain Global has entered voluntary administration.
The CBA stated that it will support 10 crypto assets in its banking app, including Bitcoin, Ethereum, Bitcoin Cash and Litecoin.