Crypto regulation has been receiving growing interest in different jurisdictions recently. While some countries maintain rigid digital assets control, some outrightly banned their usage.
Currently, crypto regulation in Australia is passing through heated arguments. Some of the country’s top government officials want to classify crypto as financial products, while some crypto executives refute it.
Minister Deems Regulating Crypto As Financial Products An Argument, Why?
One Australian media, The Sydney Morning Herald (SMH), reported about the country’s take on crypto regulation. According to SMH, Stephen Jones, the Australian Assistant Treasurer and Minister for Financial Service spoke on the matter on January 22, 2023.
Coinjar, a financial and cryptocurrency services company based in Australia and the United Kingdom that claims to have processed over $ 1.2 billion in virtual currency transactions, has announced the launch of Australia’s first 
Australia’s new cryptocurrency regulations will see anti-money laundering legislation extended in order to greater encompass the challenges posed by virtual currencies. Analysts are expecting that the Australian Tax Office (ATO) will launch a crackdown on Australian cryptocurrency traders once the new rules are in effect.