The Reserve Bank of Australia and Treasury officials have recently met with Coinbase executives to discuss crypto regulation in Australia.
Coinbase’s VP of International Policy, Tom Duff Gordon, confirmed that meetings were held in Canberra and Sydney where they discussed the government’s token mapping initiative and shared information on licensing and custody practices. Gordon spoke very positively about the treasuries efforts adding-
“The Australian Treasury’s token mapping exercise provides one of the most detailed and thoughtful papers we have encountered on the topic, setting a strong foundation for their forthcoming draft rules for crypto exchanges and custodians.”
The Australian Treasury’s token mapping exercise aims to classify digital assets to fit within existing regulatory frameworks. Coinbase expanded to Australia in October 2022 and has received positive feedback from policymakers.
Documents that were sought under the freedom of information laws have suggested that crypto legislation in Australia might noit be ready till late 2024 or beyond, however, as final submissions to the cabinet are not expected until later this year