Australia continues to be a leader in regulating digital assets.  Australia about to introduce sweeping #crypto reforms that will "place Australia at the front of the pack" https://t.co/776EkgV9Sr — Lark Davis (@TheCryptoLark) December 8, 2021 After approving a Bitcoin Spot ETF last month, Australia is now looking to be a world leader in crypto, according […] The post Australia Wants To Be A World Leader In Crypto appeared first on CryptosRus.

Australia Wants To Be A World Leader In Crypto

Australia continues to be a leader in regulating digital assets. 

After approving a Bitcoin Spot ETF last month, Australia is now looking to be a world leader in crypto, according to a report from Australian Associated Press. “Australia has an opportunity to be among the leading countries in the world in leveraging this new technology,” Australian Treasurer Josh Frydenberg said Wednesday.

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  • Early next year, Frydenberg plans to introduce legislation that will outline licensing for crypto exchanges. The licensing will regulate the buying and selling of digital assets to retail, as well as custody for businesses tasked with holding crypto for customers.
  • Fellow Liberal party member and senator Jane Hume referred to crypto as, “Not a fad.” In addition, Hume noted that a recent poll showed that 17 percent of Australians currently own cryptocurrency in some form. That’s over 4 million people out of a total population of 26 million in the country.
  • However, Hume’s number’s might be outdated. A poll released yesterday found that 29% of Australians own crypto, up from 18% in 2020. That’s about 7.5 million Auss
  • Following the massive success of Canada’s various Bitcoin and Ethereum spot ETFs, Australia announced its intentions to follow suit last month. With ETFs approved, the next step now is ironing out regulation around crypto exchanges.
  • Back in November CryptosRus reported on how one of Australia’s largest banks became the first “main street” institution in the country to offer a platform for crypto investors.

Recommended: Is Australia The Next Country To Approve A Bitcoin Spot ETF?

 

 

 

 

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