Significantly, the government will assess which tokens or “digital assets should be regulated by financial services laws” as part of its ongoing ‘token mapping’ work. In August, 2022, Australia’s Treasury announced it would prioritize ‘token mapping’ work which involves uncovering the characteristics of all digital asset tokens in Australia including charting the type of crypto asset, its underlying code, and any other defining technological feature.
Australia Moves to Tighten Safety Around Crypto in 2023
