The Australian Prudential Regulation Authority, or APRA, published a letter to regulated entities Thursday setting out risk management expectations and a policy roadmap for the regulation of crypto-assets through 2025. “While activities associated with crypto assets are still relatively limited in Australia, the potential scale and risks of such activities could become significant over time,” chairman Wayne Byres said in the letter.
The letter instructed the regulated entities undertaking activities with crypto assets to engage with their supervisory agencies, and it outlined risk management measures and standards specific to a variety of cases. The foreseen regulatory framework encompassed banking exposure to crypto assets, operational risk and stablecoins.
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