The Reserve Bank of Australia (RBA) and the Treasury have teamed up with crypto regulators in Australia on behalf of the “banking industry”.
In light of statements made by the RBA spokesperson, he noted that Coinbase held talks with the RBA’s Payments Policy and Financial Stability departments this week. Reports on the meeting held for the ongoing services of the banking industry have been published. The big meeting, which was held in Canberra and Sydney, focused on the recent banking activities and highlighted the developments to be made.
Coinbase and RBA Discuss Current Banking Situation
Consultation open! Today we released the token mapping consultation paper. This consultation is part of a multi step reform agenda to develop an appropriate regulatory setting for the #crypto sector. Read paper & submit views @ https://t.co/4W2msjhP9B @ASIC_Connect @AUSTRAC pic.twitter.com/OGHuZEGvDp
— Australian Treasury (@Treasury_AU) February 2, 2023
Tom Duff Gordon, vice president of policy at Coinbase, stated that he is targeting the “token map system” at the meetings and that he has activities in this direction. He also added that Coinbase “has performed well towards licensing and custody services.”
The Australian Treasury Department’s “token matching” application was announced on 22 August 2022. As a result of the meetings and developments, this system aims to “classify digital assets in accordance with the regulators”. As a result of the meetings Coinbase and RBA held,
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