Statistics show that more than 800,000 Australians
transacted in crypto assets in the last 3 years, with an increase
of 63% between 2021 and 2020.
So much is crypto now becoming a part of everyday
Australians' investments, that the Federal Government this
month issued a Consultation Paper inviting comment on the
long-awaited introduction of a regulatory framework for crypto
investment services.
In this short article, we will discuss the current laws
affecting crypto assets in Australia, as well as some of what is
proposed to happen in the near future.
Crypto assets and the blockchain
When referring to crypto assets, most people will associate this
with cryptocurrencies such as Bitcoin. However, this would be an
underassessment of what the underlying technology is distributed
ledger technology or blockchain, can be used for, and therefore the
diversity of what can be a crypto asset.
