Australian-based digital currency trade BTC Markets has become the first crypto firm in the country to acquire a financial license. The permit was given by the country’s monetary controller, the Australian Securities and Investments Commission (ASIC), to BTC Markets’ affiliated business, BTCM Payments. We have an exciting announcement to make: BTC Markets is the first Australian crypto exchange to successfully go through the full AFSL application process via our sister company, BTCM Payments! ✅AFSL attained✅ISO Certified✅SOC 2 on the way!#crypto #bitcoin #finance — BTC Markets (@BTCMarkets) June 21, 2022 Australian Financial Services An Australian Financial Services (AFS) license permits the holder to provide financial product advice, deal in it, and develop a market for it. Among other things, it allows for custodial or depository services. Due to the lack of regulation in the country, crypto and digital asset companies are not required to have an AFS to provide services. However, BTC Markets claims that the move will allow it to more closely bridge the gap between traditional finance and crypto while offering new products to its customers. It brings the firm’s AFS license, which was registered in August 2020, to a close after an almost two-year wait. The International Organization for Standardization (ISO) has accredited BTC Markets for information security management, and the country’s crypto industry organization, Blockcha...
