The Australian Treasury will token map the Australian crypto market ths year:
- It will seek to uncover the characteristics of all digital asset tokens available in Australia. That will include the type of crypto asset, their underlying code and any other defining technological features.
- The mapping will be used to determine which crypto assets are already subject to financial services law and non-financial products that may require their own special legislation.
Australian Treasurer Chalmers:
- “The aim will be to 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.”
Meanwhile, Bitcoin update: