In a move designed to enhance market integrity, Australia’s government recently unveiled draft legislation demanding ‘bank-grade standards’ for crypto service providers. The proposed regulations, effective September 25, 2025, are aimed at bolstering consumer protection as trust in the digital asset sector declines. Assistant Treasurer Daniel Mulino spearheaded this initiative to navigate a delicate balance between fostering innovation and ensuring robust protections for consumers. Industry experts anticipate significant changes for Australia’s crypto landscape, potentially leading to greater market consolidation and increased institutional investment once regulatory clarity is solidified. 2022’s FTX collapse served as a crucial catalyst for proactive regulation, marking a decisive shift in the approach to cryptocurrency markets.