Australia Set to Explore Broader Crypto Regulation

The new Australian government plans to improve the way Australian regulation deals with crypto assets to keep pace with developments and provide greater protection for consumers. Describing Australia’s crypto sector as largely unregulated, Australian Treasurer Jim Chalmers announced the start of a “token mapping” exercise, one of 12 recommendations made in a senate inquiry report last year. As the first step in a reform agenda, the token mapping exercise is expected to help “identify how crypto assets and related services should be regulated” and inform future regulatory decisions. It is likely the Treasury will also undertake work on some of the other recommendations in the near future, including a licensing framework for crypto asset service providers dealing in non-financial product crypto assets, appropriate requirements to safeguard consumer crypto assets held by custodians.


CH-019688 (Webpage Portal) 2022-08-30 (Published) 2022-08-30 (Updated)