The changes are intended to make the country more attractive to representatives of the cryptoindustry.
The Australian authorities have approved 6 regulatory initiatives that will help them compete with other countries for members of the crypto community. Information about this appeared in the media and the microblog of Genesis Block Advisory, whose team helps businesses navigate the legal environment of the country.
Australian regulators have taken a positive decision on a number of issues that will help reform the country’s financial market in accordance with the requirements of the introduction of the national digital currency. Also, the innovations will allow the authorities to form the legal environment for classic cryptocurrencies. In total, local regulators have approved six steps that will help them achieve their goal:
- Formation of a licensing regime for cryptocurrency exchanges.
- Creation of rules for custody and custody work with digital assets.
- Formation of rules for determining the status of digital assets.
- Creation of a Decentralized Autonomous Organization (DAO).
- Transfer of control over the digital currency of the central bank (CBDC) for retailers to the Treasury.
- Formation of general operating rules for new payment platforms.
At the same time, regulators rejected a number of initiatives, including providing bitcoin miners with discounts for working through renewable energy sources.
We will remind, for the first time information that the Australian authorities are considering the possibility of launching CBDC, appeared on the network at the end of 2020.
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