Australia has revealed its plan to regulate cryptocurrencies

Even these days, article after article reaches the world, and thanks to them, with a few exceptions, we learn about increasingly friendly attitudes towards cryptocurrencies, and after countries like Colombia, Brazil, Japan and the USA, here we have Australia again, which recently presented its plan for the regulation of cryptocurrencies. Australian Treasurer Jim Chalmers commented more closely on this topic, saying that the Australian government wants to improve the regulatory system of crypto-assets in order to provide greater protection to customers and investors.

The government, led by Prime Minister Anthony Albanese, has also decided that the Ministry of Finance will map Australia’s crypto sector and market, with the data then used to determine how crypto assets should be regulated in the country. Token mapping includes a review of all digital assets in Australia, something the previous government did not do as it embarked on digital asset regulation without any understanding of the regulation of the industry. Therefore, the new government’s different approach is more than welcome in the crypto community.