Australia’s world-leading crypto laws are at the crossroads: The inside story – Cointelegraph Magazine
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Labor Party prime minister Anthony Albanese has made regulating crypto a top priority. Neither he nor his cabinet has given a clear indication of how it may approach the unregulated space. Australia has been quietly trailblazing a progressive approach to crypto regulation. Industry players in Australia are watching closely for a shift in the regulatory climate. The country’s top consumer watchdog, the Australian Competition and Consumer Commission, recently took Meta to court, alleging the company is responsible for fraudulent advertising of crypto ads featuring fake celebrity endorsements that have run on Facebook since 2019. The government has only clarified that it will continue to exclude crypto from being taxed as a foreign currency, following El Salvador's adoption of Bitcoin as legal tender. The Treasury declined to comment on its crypto policy plans Source