Throughout 2024 and 2025, Gen Advisory's Michael Lukman and Clement Fernandez have been helping several Australian Payment Services Providers (PSPs) and Digital Currency Exchanges (DCEs) work through the implications of the following regulatory developments for their respective businesses:
Treasury's Consultation Paper (dated Jun 2023): "Payments System Modernisation (Licensing Defining Payment Functions)".
Treasury's 2nd Consultation Paper (dated Dec 2023): "Payments System Modernisation (Regulation of PSPs)".
ASIC's Consultation Paper CP 381 (dated Dec 2024) on "Proposed updates to INFO 225 - Digital assets".
Michael and Clement have also helped several PSPs successfully apply for Australian Financial Sector Licences (AFSLs). Whilst continuing to closely monitor global regulatory developments in the PSPs and DCEs space.
If you're a PSP or DCE and would like to arrange a confidential discussion regarding the above regulatory developments' potential impacts on your business, please reach out to Michael and Clement or email AFSLsupport@gnad.com.au.