Australia Must Speed Up Crypto Regulation Efforts
If Australia wants to keep up with the global competition, it needs to speed up the implementation of more specific cryptocurrency regulation, Coinbase’s chief argued today during an Australian Senate committee.
Faryar Shirzad, chief policy officer of crypto exchange Coinbase, stated that Australia must immediately implement a crypto-related regulatory framework or legislation, as other competitive countries have established clear regulatory time periods.
MiCA is expected to launch in early 2025, with the UK accelerating its consultation to meet this timing. This provides a date for other crypto markets to organize around, according to Shirzad at a public hearing of the Australian Senate Economics Legislation Committee. The hearing was part of the Digital Assets Bill 2023, introduced by Senator Andrew Bragg in March.
(With inputs from Shikha Singh)
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