The Australian Central Bank and Treasury ministry held a special meeting with Coinbase executives regarding the upcoming regulations in the crypto space in Australia!
Coinbase Meets with Australian Banking Regulators
It was claimed by some sources that Coinbase met with the Austrian Central Bank’s (RBA) Payments Policy and Financial Stability departments this week. The meeting between Coinbase and Austrian Central Bank officials was said to be part of the RBA’s ongoing liaison with the crypto industry. Shortly after these claims, Tom Duff Gordon, Coinbase’s vice president of international policy, confirmed in an interview that they held meetings with RBA officials in Canberra and Sydney.
Commenting on the issue, Tom Duff Gordon said: “That the meetings touched on the government’s token mapping efforts, and Coinbase also “shared insights on global best practices concerning licensing and custody.”
Treasury’s Work
In August last year, Australia announced the Treasury’s token mapping exercise. In this announcement, Austria stated that they aim to classify digital assets to work in existing regulatory frameworks. Subsequently, the Austrian treasury published a consultation document that was expected to receive feedback from the crypto industry.
Tom Duff Gordon praised the Treasury’s efforts in this regard, saying: “The Australian Treasury teams continue to impress us with their high level of sophistication and active involvement,” adding, “The Australian Treasury’s token mapping exercise provides one of the most detailed and thoughtful papers we have encountered on the topic, setting a strong foundation for their forthcoming draft rules for crypto exchanges and custodians.”
Reproach to the US
In response to such efforts on the Austrian side, Brian Armstrong, co-founder and CEO of Coinbase, reiterated his claims that the SEC regulated by force in a post he shared on his social media account and criticized the US’s approach to crypto regulation as if to reproach.
VISIT OUR OTHER BLOGS: ALL NEWS
Leave a comment