Category: Jim Chalmers

Internal documents from the Australian Treasury Department have revealed crypto legislation in the country could be a year away at the very least.

The new measures from the Australian government come as cryptocurrency scams skyrocketed 162% to $221 million in 2022.

The consultation paper will give an insight into how certain crypto assets should be regulated alongside frameworks for company licensing, asset custody and consumer protections under token mapping.

A spokesperson for Australian Treasurer Jim Chalmers said they are closely monitoring the fallout from FTX's collapse.

Australian Treasurer Jim Chalmers said that his government will improve the way Australia’s system manages crypto assets and provide greater protections for consumers.