REG, Official List, Notice: Crypto Crackdown & Compliance in India & Beyond!

From India's FIU cracking down on non-compliant crypto exchanges to Australia's draft bill regulating crypto platforms, the world of digital assets is seeing a compliance shakeup.

Yo, crypto fam! Ever feel like the digital wild west is getting a bit too… regulated? Buckle up, 'cause the 'REG, Official List, Notice' scene is poppin' off with major moves in India and Australia. It's all about compliance, baby!

India's FIU Drops the Hammer on Unregistered Crypto Exchanges

The Financial Intelligence Unit (FIU) in India ain't playin' games. They've slapped notices on 25 offshore virtual digital asset service providers (VDA SPs) for not playin' by the rules. We're talkin' take-down notices for apps, websites, the whole shebang! They gotta comply with the Prevention of Money Laundering (PML) Act, or GTFO.

Big names like Paxful, Changelly, and even some UK-based exchanges got the memo. India's basically saying, 'Respect Indian law to serve Indian customers.' Preach!

This ain't their first rodeo either. Back in December 2023, they were already investigatin' exchanges like Binance and Kraken. And remember when Apple and Google pulled some exchanges from their app stores in India? Yeah, things are gettin' real.

Australia's Draft Bill: Crypto Regulation Down Under

Meanwhile, down under, Australia's cookin' up a draft bill to regulate cryptocurrency exchanges. They're lookin' to bring crypto platforms under the Australian Financial Services Licence (AFSL) regime. It's all part of their grand plan for digital assets, unveiled back in March.

If this bill passes, any entity dealin' with digital asset platforms or tokenized custody platforms will need an AFSL. And guess what? They gotta play by the same rules as other financial service providers. Fines for not complying? We're talkin' millions of dollarydoos!

My Two Satoshis: Why This Matters

Look, this ain't just about red tape. Clear regulations can protect users from scams, stop shady financial flows, and build trust in the digital asset game. India's stance, supported by the Bharat Web3 Association, sends a clear message: if you wanna do business here, you gotta play fair.

However, with India's high taxes on crypto and still no clear legislation, smaller exchanges are probably lookin' at mergers or closures in 2025. It's a tough landscape out there.

London Stock Exchange and Recognised Investment Exchanges

Oh, and let's not forget the London Stock Exchange! Keep an eye out for those SEDOL numbers on dealing notices. If you see symbols like ●, †, #, ∼, ^, or *, it means the security is being admitted to trading on various Recognised Investment Exchanges, from Aquis to Euronext to Cboe Europe. The FCA's notices about securities admission to the Official List need to be read with the notices from these exchanges.

The Bottom Line

Whether it's India crackin' down or Australia layin' down the law, the 'REG, Official List, Notice' world is gettin' serious about crypto compliance. So, keep your eyes peeled, stay informed, and maybe consider a career in regulatory compliance. Just kidding… mostly!