Australia’s token mapping to be ‘tech agnostic,’ says Treasury official
Trevor Power hopes the framework will fall closer on the “spectrum” to the EU’s MiCA, as opposed to the current regulatory position in the U.S.
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Trevor Power hopes the framework will fall closer on the “spectrum” to the EU’s MiCA, as opposed to the current regulatory position in the U.S.
The new measures from the Australian government come as cryptocurrency scams skyrocketed 162% to $221 million in 2022.
The consultation paper will give an insight into how certain crypto assets should be regulated alongside frameworks for company licensing, asset custody and consumer protections under token mapping.
Australias Treasury seeks input on implementing the crypto-asset reporting framework within its domestic tax laws.
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