Dear Director,
RE: Token Mapping Consultation Paper
Thank you for the opportunity to provide feedback on
Treasury's Token Mapping Consultation Paper (the
Consultation Paper).
As set out in our response to Treasury's consultation
paper,1 we support improvements to the regulatory
framework for the crypto ecosystem in Australia. Appropriate
regulation will be critical to providing regulatory certainty to
crypto businesses and improving consumer confidence in the
sector.
We support expanding the existing financial services and
consumer credit regulatory regime to improve regulation of the
crypto ecosystem, which appears to be Treasury's preferred
approach in the Consultation Paper. In our view, a separate
regulatory regime for crypto would only serve to increase
regulatory uncertainty and potential overlap with other financial
services laws.2
