Australia is about to play a matchpoint for crypto regulation, but as friendly as its lawmakers seem to be towards digital assets, the ball might not fall inside the field. Here is the inside story by liam_taipei. (Via CointelegraphZN)
“This is a sign that Australia could end up with a very interesting model for the fast-moving DeFi space,” says Malcolm.
“If it’s sufficiently centralized, it should fall within the existing rules,” she says. “It is very hard to draw that line, but resolving this is key to determining where the rules apply.”Disrupting debanking “Debanking has been rampant in Australia since the early years of crypto,” Tucker says. “Our exchange has experienced debanking on at least 30 occasions.”
Malcolm agrees that finding qualified officials not just to write the rules but administer the legislation is critical, but it will be an uphill battle. Foreign investment in Australia has grown at around 8% per year for the past two decades, now standing at over 200% of total GDP. With finance remaining the third-largest sector for inbound investment, regulators are looking to harness crypto, blockchain and DeFi to spur growth further.
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