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ARTICLE · 08 JUNE 2021

FACT SHEET: Checklist for setting up a Cryptocurrency (Virtual Asset) Exchange in Australia

Holley Nethercote
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Before you set up a cryptocurrency exchange, read this.

AustraliaFinance and Banking
Sarah Archer
Sarah Archer
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Before you set up a cryptocurrency exchange.

Determine the service(s) you will provide as part of your cryptocurrency exchange, and what will be traded. For example, consider:

  • Will you exchange crypto to fiat, crypto to crypto, or both?
  • What virtual assets will be exchanged?
  • Will you operate as a broker or market maker?
  • Will you provide e-wallets?
  • Will you provide other services (cross-border payments, DeFi, etc)?

Determine the structure of your cryptocurrency exchange. For example:

  • Will you operate as a broker or market maker?
  • Will it be centralised or decentralised?
  • How will you maintain liquidity?
  • What services will be outsourced (if any)?

Draw up an end-to-end funds flow, and crypto flow, diagram

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The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.

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