Australian-based cryptocurrency exchange BTC Markets has become the first crypto company in the country to gain a financial services license. An Australian Financial Services (AFS) license allows the holder to give advice, deal in and create a market for a financial product. Although the license isn’t currently needed for crypto companies in Australia, BTC Markets claimed it is preparing the exchange for upcoming regulations.
The license was issued by the Australian Securities and Investments Commission (ASIC), the country’s financial regulator, to BTC Markets’ sister company BTCM Payments. BTC Markets has certification from the International Organization for Standardization (ISO) for information security management and is certified by the country’s crypto industry body, Blockchain Australia.