ME News — April 1 (UTC+8): The U.S. March ADP employment report is scheduled for release at 20:15, followed by the U.S. February retail sales monthly reading. The figures will provide fresh signals on labor market conditions and consumer spending, factors that could shape expectations for the Federal Reserve's interest-rate path. Investors are advised to watch for related risks. (Jinshi) (Source: ODAILY)

Australia has passed legislation requiring cryptocurrency platforms to obtain financial services licenses, extending regulatory oversight to the sector.

Australia has enacted its first comprehensive cryptocurrency law, mandating that crypto exchanges and custody platforms secure financial services licenses within six months.

Australia has passed its first crypto-specific legislation, formally bringing digital asset firms under a licensing regime. Parliament approved the Digital Assets Framework Bill on April 1, ending years of regulatory uncertainty. Under the new law, crypto exchanges and custody providers that hold assets on behalf of customers must obtain an Australian Financial Services Licence (AFSL) from the Australian Securities and Investments Commission (ASIC). Obligations include safeguarding client assets, providing clear disclosures and maintaining dispute-resolution systems. The rules also extend to tokenised custody platforms that hold real-world assets and issue digital tokens. The framework is designed to address risks such as commingling of customer funds and insolvency issues that contributed to past crypto collapses. The legislation focuses on firms handling customer funds rather than regulating crypto itself.

BIG: Australia has passed the Digital Asset Framework Act, setting formal definitions for digital tokens and digital asset platforms, introducing fit-for-purpose financial rules, and giving regulators broader oversight and enforcement authority.

ME News reported that on April 1 (UTC+8), Australia formally enacted the Corporations Amendment (Digital Assets Framework) Act 2025, the country's first comprehensive legislation governing digital assets. The law requires cryptocurrency trading platforms and custodial service providers that hold customers' digital assets to obtain an Australian Financial Services Licence and comply with existing financial-services rules covering client asset protection, standardized disclosures, prevention of misleading conduct, and dispute resolution. It also creates two new regulated categories: digital asset platforms and tokenized custodial platforms. A six-month transition period has been set for firms to meet the new requirements. (Source: Foresight News)

Australia has formally brought into force the Corporations Amendment (Digital Assets Framework) Act 2025, its first wide-ranging law governing digital assets, CoinDesk reported. Signed into law on April 1, the legislation requires cryptocurrency exchanges and custodial platforms to apply for an Australian Financial Services Licence from the Australian Securities and Investments Commission (ASIC) and meet compliance standards within six months. The framework creates two regulated categories—"digital asset platforms" and "tokenized custodial platforms"—bringing them under core obligations comparable to those for brokers and fund managers. Requirements include safeguarding client assets, enhanced disclosures and formal dispute-resolution processes, targeting risks such as commingling or misuse of customer funds. Research cited in the report estimates tokenized markets, payments and digital assets could contribute up to AUD 24 billion a year, about 1% of GDP. Without a dedicated regulatory framework, the projection falls to roughly AUD 1 billion by 2030.

U.S. prosecutors have indicted 10 foreign nationals in connection with an alleged cryptocurrency wash-trading operation, according to the indictment.

U.S. authorities have charged 10 foreign nationals in a sweeping enforcement action targeting alleged crypto market manipulation tied to several market-making firms. The U.S. Department of Justice said the defendants used wash trading and pump-and-dump tactics to manufacture trading activity, boost token prices and volume, then sell into the rally at higher levels. The operation also led to arrests, guilty pleas and the seizure of more than $1 million in digital assets. Executives and employees linked to four firms—Gotbit, Vortex, Antier and Contrarian—were indicted on March 30 by federal grand juries on fraud and conspiracy allegations. Prosecutors allege the group created fake market activity and sold tokens at inflated prices, harming investors worldwide. The DOJ said the defendants operated as illicit market makers, using wash trades to artificially inflate reported trading volume. Three defendants, including two CEOs, were arrested in Singapore and later extradited to the United States. Two others have already pleaded guilty, while several remain under indictment. If convicted, each defendant could face up to 20 years in prison and fines of up to $250,000 per charge. Court filings outline a multi-part series of indictments in 2025. On March 25, 2025, three individuals tied to Gotbit were charged with wire-fraud conspiracy related to token price manipulation. On Aug. 28, 2025, Vortex executives—including CEO Gleb Gora, 24, and CFO Sergei Ryzhkov—were charged in a similar case. On Sept. 4, 2025, four individuals associated with Contrarian and Antier were indicted for allegedly planning token price pumps. Several defendants were arrested in Singapore on Oct. 2, 2025, and later appeared in federal court in Oakland. The investigation followed an undercover operation led by the FBI and IRS Criminal Investigation. Authorities said investigators created multiple test tokens to identify manipulation methods, alleging the defendants repeatedly inflated trading volume to draw in buyers before selling their positions at elevated prices. Regulators have intensified scrutiny of market makers and liquidity providers accused of creating artificial demand across crypto markets, and the DOJ framed the latest case as part of that broader crackdown.