We have brought you several articles in the past in relation to Australia, which looks at cryptocurrencies very progressively, as evidenced by the forthcoming three new laws that will shed more light on “cryptocurrency regulation”. These three new bills should focus on for cryptocurrency taxation, investor protection and regulation of digital banks and exchanges. According to several competent people, such laws are necessary, as only in this way can digital assets really become part of the everyday life of every citizen.
The government has previously asked the Board of Taxation (BoT) to minimize the tax burden on digital assets. Jane Hume, the country’s financial services minister, said she “can ensure that Australian stock exchanges, managers and brokers operate within a regulatory framework because it is better and more secure.” Thus, Australia still has the potential to become one of the leaders in terms of adequate regulation and at the same time the adoption of cryptocurrencies themselves. And even though Australia is not going to go as far as El Salvador, the upcoming financial reforms are promising that cryptocurrencies will become recognized assets in the market.
