Crypto regulations will be informed by a phase of comprehensive “token mapping” research, according to Australia’s Treasurer.
Australia’s crypto regulators are attempting to go where no government has ever.
That’s according to them, at least.
On Monday, the Australian treasury announced a multi-step plan to establish a crypto regulatory framework that it claims will be more thorough and better-informed than those previously established “anywhere else in the world.”
Key to the government’s approach will be a form of market research called “token mapping.” Token mapping will allow officials to view and evaluate nuanced trends in Australian crypto markets to “identify how crypto assets and related services should be regulated.”
A representative from the Treasury’s Office told Decrypt that “the token mapping exercise will be conducted this year. The timeline for changes to legislation and regulations will depend on the outcome of this consultation.”