The Albanse government is set to launch a major audit of the crypto sector to determine how it should be regulated.
In a statement on Monday the Albanese government announced a world first “token mapping” project to commence this year, with the aim to “improve” the way Australia’s regulatory system manages crypto assets.
Token mapping will seek to determine the characteristics of all the digital tokens available in Australia, providing the government with the crucial knowledge to tackle fresh regulator in the crypto area.
“This hasn’t been done anywhere else in the world, so it will make Australia leaders in this work,” the Minister for Financial Services, Stephen Jones, and Assistant Minister for Competition, Charities and Treasury, Andrew Leigh, said in a join statement.
Shared from Independent Financial Adviser
