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Australia goes after cryptocurrency

Australia goes after cryptocurrency

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RBA governor Philip Lowe signals central bank is open to retail digital currencies.

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Bitcoin (BTC) and other cryptocurrencies are legal in Australia and are treated as property. It is legal to trade, spend, receive and store cryptocurrency, and. The treasurer, Jim Chalmers, unveiled his proposal to make crypto exchanges and digital asset platforms subject to existing Australian financial services laws. It suggests that crypto exchanges with larger holdings should require a AFSL from the Australian Securities and Investment Commission (ASIC).

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calendar_month 30.03.2023

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Concern about Binance are growing, and customers are withdrawing funds from the exchange at a high rate. However, this is not the view of the financial authorities where HyperVerse has been most active. Providing access to our stories should not be construed as investment advice or a solicitation to buy or sell any security or product, or to engage in or refrain from engaging in any transaction by Forbes Advisor Australia. This primarily centres around criteria that ASIC expects market operators to apply when determining whether a specific crypto asset is an appropriate asset for market-traded products.