Australia must speed up crypto regulation efforts to stay relevant, Coinbase exec says
The Digital Assets Bill sponsored by Bragg aims to introduce licensing for crypto exchanges and clarify custody requirements.in a statement in March. “Australia can be a digital asset hub while protecting digital asset consumers. But we must act now.”on potential crypto regulation that applies some existing financial frameworks to regulate the country’s crypto sector.
“[The Hong Kong regulator] essentially out of nowhere decided to signal their interest in bringing and integrating crypto into their financial system,” he added. “And they were able, over the course of the ensuing nine months to issue a consultation paper, take public comment, put out a draft regulation, finalized it and. That's a very, very fast time period and it's an example of the speed at which markets move to kind of be competitive in the race.
“That's part of the reason why we came on shore is because we perceive it as a market that is headed in a trajectory of regulatory clarity and certainty,” Shirzad said. Coinabseits services to Australia in 2016. “The sooner Australia acts, the sooner we can build and invest towards a framework that we understand will be stable and resilient for us to grow into.”
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