RATE Group | Cryptocurrency Regulation In Australia: Pains And Gains
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Cryptocurrency Regulation In Australia: Pains And Gains

27 Aug Cryptocurrency Regulation In Australia: Pains And Gains

Posted at 02:52h in Cryptocurrency News by

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We start this analysis with an unusual positive: cryptocurrency regulation in Australia is moving in the right direction, and the latest legislative developments regarding cryptocurrencies should be welcomed by the general public as a step in the right direction.

Offering protection to crypto consumers and investors, and providing legal certainty to blockchain-related businesses – without extinguishing the fire of blockchain innovation and adoption – is an incredibly hard thing to do, and the Australian authorities seem to be very active and willing to achieve this balance.

The Land of Plenty may not be the biggest player in the game, but it sure is a significant one. Let us take a look at Australia’s regulative approach to ICOs, cryptocurrency exchanges, and tax treatment of cryptocurrencies.

ICO regulation

The Australian Securities and Investments Commission (ASIC) is ahead of the game when it comes to cryptocurrency regulation in Australia. Set up under the 2001 ASIC Act, the…

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