The Australian Government is working on a roadmap that will represent the first in the world by leveraging the features of crypto assets.
The Australian Government is taking serious steps in the regulation of crypto assets. One of these steps is a token map where crypto assets will try to take advantage of what they have to offer.
Australia Sets to Be First in Cryptocurrency Mapping
Australian Prime Minister Anthony Albanese’s government will this year prioritize which cryptocurrencies are most prevalent in Australia and which need to be regulated. Treasurer Jim Chalmers said that the details of the issue will be announced very soon.
Chalmers said the government will first look at Australia’s regulatory and licensing loopholes, as well as review organizational structures and look into custody obligations for third-party custodians of crypto assets. In addition, the government will work on different issues that will protect investors.
Chalmers said on the subject:
“As crypto assets are becoming increasingly common, we need to make sure that users interested in crypto are adequately informed and protected.”
In a report by the Australian parliamentary committee on the cryptocurrency industry in October 2021, it was said that one of the main problems in regulating digital currencies is the lack of standard definitions and classifications by national and international regulators.
16461
