Labor says assets can boost the economy
Under the policy, businesses that provide certain types of digital assets (stablecoins and “wrapped tokens”) won’t be required to hold a financial markets’ licence – a decision likely to be welcomed by crypto exchanges operating in this part of the market.
The government also vowed to continue trying to counter “de-banking”, by which banks deny their services to some tech-based rivals – a long-running issue that’s been a particular concern in the crypto sector. De-banking could have a “devastating” impact on affected businesses, while stifling competition and innovation in the financial services sector, it said.
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The world’s largest cryptocurrency, Bitcoin, surged late last year in response to Trump’s…
