CoinJar praises proposed Australian cryptocurrency regulation

CoinJarAustralia’s longest-running cryptocurrency exchange has announced its support for Australia’s selection committee’s recommendations in a report by the Technology and Financial Center (ATFC) on Australia’s Emerging Digital Asset Industry.

CoinJar is pleased to have worked extensively with Fintech Australia and Blockchain Australia to submit and address Senator Bragg and his team’s concerns in the crypto industry as they finalize the report.

Usher Tan, CEO CoinJarSaid: “We commend the positive approach that AFTC has taken in this proposed regulatory framework. CoinJar is committed to providing people with a secure and positive experience in investing in cryptocurrencies and is effective. We believe that good regulation is the best way to achieve this. “

“As one of the world’s first cryptocurrency exchanges officially registered with the UK’s Financial Conduct Authority, CoinJar takes a broader approach with separate licenses for both crypto markets and custodians. I’m glad you’re doing it.

“We are also focusing on the issue of bank deductions for crypto companies and participants, the proposal of tax incentives on the use of renewable energy, and the new legal definition of DAO (Decentralized Autonomous Organization). We are also happy. These measures help bring certainty to the local industry and help spur a healthy and globally competitive startup scene.

“From the consumer’s point of view, we welcome the proposed changes to CGT processing of cryptocurrencies-a long-standing impediment to innovation and adoption. The dynamic and versatile nature of crypto assets is taxable. We need a more subtle approach to the problem and are happy to finally see these concerns recognized at such a high level. “

“In our view, the AFTC report is very optimistic, seeing blockchain technology as a historic innovation and a match between opportunity and risk,” Tan added. I did.

“Blockchain technology will be at the heart of the new Internet, Web3.0. AFTC reports will help Australia take full advantage of this multi-billion dollar opportunity.”

CoinJar praises proposed Australian cryptocurrency regulation

Source link CoinJar praises proposed Australian cryptocurrency regulation

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