Australia's ASIC is one of those organizations that are forcing their rules and the regulations on the small business and startups in the space of the crypto. And they are planning for the license and regulations to be a new norm for the comapny. 

Australia has a body that does the regulation for the crypto and the blockchain based finances. And Australian Securities and Investments Commission commissioner is that body. And they have already managed to bring the exchange under those rules.

ASIC has mentioned about new regulatory reforms on the crypto exchange and the new reforms from the ASIC is coming out soon. They mentioned about it recently in the new tweet.

Previously Australia had the issues with the exchange named Kracken. And this exchange was later forced to comply. Most of the current exchanges working in the Australia are compliant and also being reporting to the ASIC for any regulatory issues.

Any crypto developer on the soil of Australia is likely to be compliant in the Australia. And this means any company which needs business out of the Australian borders would require the compliance and the regulatory filings.

Alan Kirkland from the ASIC has referenced variety of the start-up compliance in the fintech space. So Australian business have plenty of the things need to be covered under the new crypto reforms.