Australia: cryptocurrency regulation and reforms

On 22 August 2022, the treasurer announced the government will start consultation with stakeholders on a framework for industry and regulators in respect of crypto assets. As the first step in a reform agenda, treasury will prioritise “token mapping” work in 2022, which will help identify notable gaps in the regulatory framework, progress work on a licensing framework, review innovative organisational structures, look at custody obligations for third party custodians of crypto assets and provide additional consumer safeguards.

For further information, please contact David Watkins and Peta McFarlane.

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