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Australian authorities lay out guidelines and roadmaps for crypto industry regulation

The Australian Prudential Regulation Authority (APRA) set out initial risk management expectations for regulated entities dealing with crypto assets on Thursday, as well as a policy roadmap for introducing further standards over the next three years. In a letter from APRA Chair Wayne Byres, the authority, which supervises banking, insurance and pension institutions in Australia, emphasized the need for due diligence and risk assessments when dealing with crypto assets.  Its roadmap revealed plans to introduce operational risk standards by 2024, …