Australian Government to Pass Crypto Regulations

The Australian government plans to regulate digital assets including cryptocurrencies as part of the biggest overhaul of the nation’s payment systems since the early days of the internet.

A taxation system for cryptocurrency, protections for investors from unscrupulous dealers and methods of regulating digital banks, crypto exchanges and brokers are all on the table under the proposed changes.

“The government can’t guarantee your crypto any more than it can guarantee a painting or a share in a company, and nor should it,” Financial Services Minister Jane Hume said on Sunday.

“But we can make sure Australian exchanges, custodians and brokers — Australian players in the crypto ecosystem — work within a regulatory framework that is better, safer and more secure.”

Treasurer Josh Frydenberg flagged the reforms in December, announcing that the Morrison government would look to make the biggest changes to the sector in 25 years.

--

--

--

Your foremost source for #blockchain news ⛓ Inquiries: contact@blockchaindaily.news

Love podcasts or audiobooks? Learn on the go with our new app.

Recommended from Medium

TiTi Stablecoin Data Weekly(week15,2022)

Verasity Is The Best Attention-Based Video Rewards Model

LON 1 year anniversary recap

The Art Of Zooming Out

What Drives VIDDO Token value?

L’era dei Security Token è iniziata: alla scoperta delle STO

The PancakeSwap exchange is already available in iMe!

BitCanna is now LIVE at Zamnesia!

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store
Blockchain Daily

Blockchain Daily

Your foremost source for #blockchain news ⛓ Inquiries: contact@blockchaindaily.news

More from Medium

The bitcoin standard: A rising economy.

Cryptocurrencies — What are they?

What to sell right now. Which cryptocurrencies are too overvalued and worth getting rid of.

Sunday Showdown: What to Expect in Crypto Market for the Week Starting 5/16/22