On 21 March 2022, the Government released the Terms of Reference requesting the Council of Financial Regulators (CFR) to provide advice on policy options to address the issue of de-banking for financial technology firms, digital currency exchanges, and remittance providers. This request follows the Government’s response to the final report of the Senate Select Committee on Australia as a Technology and Financial Centre in December 2021.

The CFR is requested to provide advice to the Government on policy options by the end of June 2022.

Stakeholders are invited to provide any feedback or request further information by way of email to De-Banking@TREASURY.GOV.AU.