Australia to prioritize 'token mapping' as part of its efforts to regulate cryptocurrencies

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Australia regulations crypto cryptocurrency Australia to prioritize 'token mapping' as part of its efforts to regulate cryptocurrencies

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Once asset classes are clearly defined, the government can regulate the industry based on existing laws and enact new laws where a particular asset class requires specialized legislation. Token mapping is the first step in the process of reforming crypto-related laws in Australia and will help determine how crypto assets and related services should be regulated. Australia is the first country in the world to formally institute a token mapping initiative.

 

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