comprehensive crypto legislation after the end of 2023. This means that Australians will have to wait until 2024 to see the implementation of the new regulatory system.
The government has been working on the crypto framework for some time now, and the delay in implementation is due to the extensive consultation programs and events that need to take place before the legislation can be passed. The government has been seeking input from industry experts, stakeholders, and the public to ensure that the new regulatory system is comprehensive and effective.
The new legislation is expected to cover a range of issues related to cryptocurrencies, including taxation, anti-money laundering measures, and consumer protection. The government has also indicated that it will be working closely with international partners to ensure that the new regulatory system is aligned with global standards.
The delay in implementation has been met with mixed reactions from the crypto community. Some have expressed frustration at the slow pace of progress, while others have welcomed the government’s efforts to ensure that the new regulatory system is well thought out and effective.
Overall, the anticipation for Australia’s new crypto framework continues to grow, and the government’s commitment to comprehensive legislation is a positive step towards creating a safe and secure environment for crypto users in the country.
