Kangaroo land is better off than Asia


Australia has planned Tighter regulation of the cryptocurrency sector this year. One of two things: either the local crypto companies pack their bags, or they decide to stay and abide by the rules that will be imposed by the government of Anthony Albanese. The way things are, the realization of the second scenario seems very likely, because, surprisingly, Bitcoin ATM installation is still on the rise in Kangaroo Country.

Australia 364 bitcoin ATMs, Asia 355

Even El Salvador, the first country to legalize bitcoin, had to give way to Australia in terms of BTC ATMs installed across its territory in January. Proof of that The Fifth Continent is still on the run Installations of this type are disruptive devices.

in A recent report from Coin ATM Radarwe learned that the same country, ie The Australian country leads Asia in bitcoin-mounted ATMs. Even China, Singapore, Japan and India combined can’t get past it Australia Flight 364 Since they only have 355 bitcoin ATMs. Note that this is only 1% of fiat to cryptocurrency convertors.

The collapse of Bitcoin ATMs around the world – Source: Coin ATM Radar

At the moment, Australia is preparing to enter the top three of the largest cryptocurrency ATM centers monopolized by Europe, Canada and the United States.

No “bans”, just strict rules

And United States of America seems now Hesitant about the idea of ​​banning cryptocurrencies or developing a proper regulationAustralia has already taken its position. In fact, the government is in the place of advocates Fairly strict regulations for the sector. Lessons from cryptocurrency exchanges like FTX, series of bank crashes like Silicon Valley, and cryptocurrency scams will push him to choose this alternative.

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However, we will note it Local authorities seem to be fond of Web3. His outstretched hand to the actors in the middle is relatively noticeable in this tweet.

A helping hand from the Australian Treasury

« Consultation is open! Today we released the Consultation Paper as part of a multi-step reform program aimed at developing an appropriate regulatory framework for the crypto sector. Read the document and send feedback @ http://treasury.gov.au/consultation/c2023-341659 »

Pending the release of texts related to the regulation of cryptocurrencies in Australia, we will agree that the local central bank is considering at the moment Pilot project for the Convention on Biological Diversity. In this aspect, it seems that the Australian elected officials have not adopted the “follow the leader” policy of the United States since then, and the issue remains divided.

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