The Currency Analytics
By Steven Anderson
Australia has been positive about cryptocurrency regulation. There are several large-scale exchange registrations, and related product plans to happen on the continent.
Since Australia is permitting mainstream adoption of Cryptocurrency and blockchain technology, this can, in turn, help several other industries benefit as well.
Jaryd Koenigsmann, CEO of myCryptoWallet stated, “We’re taking a big step to make cryptocurrency a bigger part of offline daily life.
Before regulation, cryptocurrencies have been subject to double taxation. It was only in the year 2017 that cryptocurrency exchanges and cryptocurrencies were made legal in…
Currently, Australia has the 14th largest of BTC volumes with a current supply of 17 million coins.
In 2018, the Australian Transaction Reports and Analysis Centre (AUSTRAC) had stated that they are going to approve more cryptocurrency exchanges for use in the continent.
Every exchange that is registered should comply with the applicable regulations, and it is also mandatory to verify and identify users with AUSTRAC.
With the blockchain technology already making its way to the mainstream, several global companies are beginning to explore the possibilities available with this technology.