[Australia Plans to Extend Financial Services Laws to the Crypto Industry] The Australian government has released a draft proposal for regulating crypto asset platforms, aiming to extend existing financial services laws to the cryptocurrency sector. The draft requires crypto platform operators to obtain an Australian Financial Services License and categorizes them into digital asset platforms and custody platforms. Operators must manage conflicts of interest, provide dispute resolution mechanisms, and meet custody and settlement standards. The new regulations cover packaged tokens, public token infrastructure, and staking services, while granting regulatory authorities the flexibility to make adjustments. Additionally, the Australian Securities and Investments Commission has implemented licensing exemptions for stablecoin intermediaries. The draft is currently in the public consultation phase, and the legislative process is underway.