As part of Treasury’s “token mapping” exercise, it will release a consultation paper early next year to inform what digital assets should be regulated by financial services laws and consult on a custody and licensing framework next year before introducing legislation.
Developing an overarching plan for payments was a key recommendation in the payments system review prepared for Treasury by lawyer Scott Farrell in 2021. from ASX Group and potentially run by an industry utility. Alternatively, ASIC or the RBA could decide to force stronger governance to reduce ASX conflicts of interest.
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