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Sandeep Kumar Mishra
Mar 16, 2023
by Sandeep Kumar Mishra

Australian Banking Regulators Meet With Coinbase to Discuss Local Crypto Regulations

Coinbase Crypto Regulations
The Reserve Bank of Australia and the Treasury held private meetings with Coinbase executives to discuss the future of crypto regulations in Australia. Coinbase met with the RBAs accounts and financial stability departments to discuss the bank's continued engagement with the industry. The meetings explored the government's token mapping efforts and Coinbase shared insights on best practices for licensing and custody.

Coinbase Vice President of International Policy Confirms The Meetings

Coinbase vice president of international policy Tom Duff Gordon, who was reported to have flown in for the meetings, also confirmed that meetings took place with Treasury in Canberra and Sydney.

Gordon said that the meetings touched on the government’s token mapping efforts, and Coinbase also “shared insights on global best practices concerning licensing and custody.” The Australian Treasury's token mapping exercise was announced on Aug. 22, and is aimed at categorizing digital assets in a way to work them into existing regulatory frameworks.

Coinbase CEO Criticises U.S. Approach to Crypto Regulations

Coinbase co-founder and CEO Brian Armstrong has criticised the US approach to cryptocurrency regulation by repeating the SECs demands for regulation through enforcement and claiming that the SEC wants companies to register with them even if there is no way.

Documents recently obtained by the Australian Financial Review on Freedom of Information laws show that cryptocurrency laws in Australia could continue into 2024 and beyond even if the cabinet does not approve the final recommendation this year. 

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Brian Armstrong Coinbase Crypto Regulations
Australian Banking Regulators Meet With Coinbase to Discuss Local Crypto Regulations
Sandeep Kumar Mishra
Sandeep is an avid cryptocurrency enthusiast and a keen & passionate blogger. He has a strong mix of skills in the areas of computer networking, cryptography, algorithms, and data structures and specializes in ERC20 tokens. Lately, he is taking a lot of interest in blockchain-powered AI solutions, about which he is also reading and writing extensively. He has to his name dozens of deeply researched articles about cryptocurrencies, blockchain, AI, and IoT. Apart from that, he loves to keep track of the latest trends in social media and digital marketing space. Also, as a huge proponent of blockchain and cryptocurrencies, Sandeep tries to deliver all the latest cryptocurrency news to ardent crypto supporters like yourselves. If you like his content, feel free to follow him on LinkedIn.

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