He adds that the regulations being introduced are similar to the AML / KYC rules that are being introduced in other markets like the U.S. Taylor says that the positive aspect with the regulations launched by the Australian government is that they offer
increased regulatory certainty but specifying different regulatory bodies and the nature of cryptocurrency transactions that they will be in charge of.
Not exact matches
We know from experience that done properly, this can
increase regulatory efficiency and the
certainty that industry desires, while ensuring principles of sustainability are upheld.
What is more, the
increased regulation may help root out fraudulent schemes that benefitted from the lack of
regulatory certainty and oversight.
Nonetheless, the meeting held yesterday by the US Senate has without a doubt brought some more
certainty in the market given the
increasing negativity and FUD from some international
regulatory bodies and institutions.