Australian Regulator Outlines Guidelines for Mining Businesses

The Australian Securities and Investment Commission (ASIC) published guidelines on their website for cryptocurrency businesses and businesses considering ICO’s. The guidelines included information related to miners. The high-level regulatory guideline for miners describes that Australian laws related to businesses dealing in clearing and settlement (CS) will be applicable. In most cases, this means acquiring a CS facility licence for mining entities operating under the regulatory oversight of ASIC.