Australian Government Begins Crypto Regulation Reform
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Loading... - KATE BROWN
- 21 Feb 2023
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On February 3, 2023, the Australian government published a consultation paper, exploring which elements of the cryptocurrency ecosystem require additional regulation. This paper follows a joint statement issued in August 2022 by Treasurer Jim Chalmers and Assistant Minister for Competition, Charities, and Treasury Andrew Leigh that announced crypto reforms were underway.
In the paper, the Australian Treasury explains that everyone who invests in cryptocurrency must include their assets in their tax returns. It also sets out the basis of a “token mapping framework” to help explain how various cryptoassets might fit into existing regulatory frameworks. Read More..
