Australia’s Big Move on Cryptocurrency
upstart writes:
Australia's big move on cryptocurrency:
Australia will make its next move towards regulating cryptocurrency after the government promised 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."
Survey data from 2021 suggested that 25 per cent of Australians held or had previously held cryptocurrencies, making Australia one of the biggest adopters of cryptocurrencies on a per capita basis.
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