low cost credit contracts – FinTech and Blockchain Law Watch

Australia: ASIC Prepares Guidance Following the Release of BNPL Regulations

Feb 13 2025

By: Daniel Knight, Madison Jeffreys and Mackenzie Brown

On 5 February 2025, the Australian Government (via the Department of Treasury) released an exposure draft on the National Consumer Credit Protection Amendment (Low Cost Credit) Regulations 2025 (draft Regulations). The draft Regulations follow the recent introduction of the Treasury Laws Amendment (Responsible Buy Now Pay Later and other Measures) Act 2024, which will see Buy Now Pay Later providers regulated as ‘low cost credit contract’ (LCCC) providers under the National Consumer Credit Protection Act 2020 (National Credit Act) from 10 June 2025.

Australia: BNPL Regulation Takes Another Step Forward

Apr 01 2024

By: Dan Knight and Ben Kneebush

On 12 March 2024, the Australian Treasury released for consultation an exposure draft legislative package that proposes to amend the current regulatory framework to regulate low cost credit contracts (LCCCs), including Buy Now Pay Later (BNPL) arrangements and other types of credit contracts. These changes are designed to be flexible, adaptable and proportionate to the risk of consumer harm.

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