The Australian government's plans to institute crypto rules for the nation could stretch well into 2024, documents involving deliberations of the Treasury_AU appear to indicate. By amitoj
While the government has not given a timeline for bringing in crypto legislation, it last month declared intentions toIn a document dated August, three months after Anthony Albanese defeated the coalition administration of Scott Morrison, the Treasury reveals how some stakeholders might be disappointed with a"perceived delay in implementing a licensing regime" but viewed the concerns as"somewhat mitigated" by the collapse of several crypto companies and market crash earlier...
"Final submissions to cabinet are not expected until towards the end of this year," AFR said, leading some industry observers to suggest that"legislation would probably not come until well into 2024 or 2025." Also in August, Treasurer Jim Chalmers said Australian"regulation is struggling to keep pace and adapt with the crypto asset sector," and introducedas a potential way forward."The Albanese government is taking a more serious approach to work out what is in the ecosystem and what risks need to be looked at first."
"While recognising the need for action, Treasury sees the opportunity to take more time to better understand the emerging innovations and risks," according to one of the documents, which also reveal that the Treasury has established a dedicated crypto policy unit.
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