Documents have revealed Aussie crypto investors and companies could be waiting until at least next year for crypto regulation in the country.
However, according to the documents, final submissions to the cabinet are not expected until late in the year, possibly dragging out any decisions on crypto legislation well into 2024 and beyond.
“Treasury expects some stakeholders to be disappointed with the perceived delay in implementing a licensing regime,” according to a brief from Australian Treasurer Jim Chalmers, seen by AFR. "Treasury considers these concerns are somewhat mitigated by the current market conditions resulting in less consumer demand for crypto assets; and the need to complete the token mapping exercise to provide clarity on how any new licensing framework would operate in practice."Meanwhile, the government has also revealed through the documents that it has created a dedicated “crypto policy unit” within the Treasury department.
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