The Australian government is seeking responses to its latest consultation paper on the topic of token mapping.
Token mapping aims to build a shared understanding of crypto assets in the Australian financial services regulatory context. This, the Australian Treasury claims, will explore how existing regulation applies to the crypto sector and inform future policy choices.
Back in August 2022, the Government announced ‘token mapping’ – a foundational step in the Government’s multi‑stage reform agenda that commits to developing appropriate regulatory settings for the crypto sector.
The Treasury said it seeks feedback from stakeholders on this framework to inform a fact‑based, consumer-conscious and innovation-friendly approach to policy development.
Respondents can submit responses to this consultation up until 03 March this year. Interested parties are invited to comment on this consultation.
While submissions may be lodged electronically or by post, electronic lodgement is preferred, the Treasury claims.
The Treasury added, “All information (including name and address details) contained in submissions will be made available to the public on the Treasury website unless you indicate that you would like all or part of your submission to remain in confidence.”
Back in March last year, the Australia and New Zealand Banking Group revealed plans to launch the first bank-issued stablecoin payment from Australia through a public permissionless blockchain transactions.
Copyright © 2023 FinTech Global