Australian Government Says It Is Working to Ensure ‘Regulation of Crypto Assets Protects Consumers’ – Regulation Bitcoin News
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The Australian government is taking steps to ensure that the regulation of crypto assets protects consumers. The government announced that it is working with the Australian Securities and Investments Commission (ASIC) to develop a regulatory framework for cryptocurrency-related activities.
The government’s announcement follows a recent report from the Australian Senate Economics References Committee that identified the need for a regulatory framework for crypto assets. The report recommended that the government work with ASIC to develop a framework to protect investors and consumers from potential risks associated with crypto assets.
The Australian government has already taken action to protect consumers from the risks associated with crypto assets. In 2018, the government introduced the Anti-Money Laundering and Counter-Terrorism Financing Act, which requires digital currency exchanges to register with ASIC and comply with anti-money laundering and counter-terrorism financing laws.
The government’s announcement is in line with its commitment to ensure that the regulation of crypto assets protects consumers. The government is aiming to ensure that the regulatory framework is effective, efficient, and tailored to the Australian market.
The government’s announcement is a positive step towards protecting consumers from the potential risks associated with crypto assets. The government is committed to ensuring that the regulation of crypto assets protects consumers and that consumers are able to make informed decisions when investing in crypto assets.
The government’s commitment to developing a regulatory framework for crypto assets is a welcome move. It is a positive step towards protecting consumers and ensuring that the regulation of crypto assets is effective and tailored to the Australian market.
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