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ARTICLE · 23 FEBRUARY 2023

Navigating the Australian Token Mapping Consultation Paper

Piper Alderman
Piper Alderman
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Piper Alderman

Piper Alderman

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The Paper is intended to assist regulators and policy-makers in formulating regulation for the crypto-asset industry.

AustraliaTechnology
Steven Pettigrove
Steven Pettigrove
Michael Bacina
Michael Bacina
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On 3 February, the Australian Treasury released the Token Mapping Consultation Paper (Consultation Paper or the Paper) which aims to build a shared understanding of crypto-assets in Australia. The Treasurer, Jim Chalmers, previously announced this 'token mapping exercise' as a foundational step in the Government's promised reform agenda to develop an Australian regulatory framework for crypto-assets. The Paper is intended to assist regulators and policy-makers in formulating appropriate regulation for the crypto-asset industry.

The Senate Committee on Australia as a Technology and Financial Centre recommended a token mapping exercise to identify the best way to define and characterise the various types of digital asset tokens in Australia. The Paper suggests that a bespoke 'crypto asset taxonomy' may have minimal regulatory value. Instead, the Paper sets out to define some of the key concepts relating to blockchain and crypto technology and seeks responses

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