Australia to fully incorporate Cryptocurrency

Things are heating up in the land down under and we don't just mean because summer is arriving we're talking digital assets and crypto currencies which can not come at a better time for me personally as I begin to move into this space with SKIPPY and also another small announcement on that front is that I will be also moving into Block Chain consultancy as if you're reading this on Leo Finance like me, you've probably been around for quite some time and know the sector in and out. We are the experts, so it is time to move into that industry.

The world is moving at an incredibly fast pace when it comes to Block Chain technology unless like me you have been around since 2016 and it feels like forever. Sadly much of those days for me were filled with losses and only since the pandemic have I really started to learn and make some profit.

But there is good news on the horizon with Australia moving forward to regulate Bitcoin and fully incorporate it into mainstream life. Regulation can be a dirty word but you have to remember in Australia it is already legal. The main changes currently looking at being incorporated transpire from a number of high profile cases where exchange owners have taken off with peoples money and shut up shop.

Some changes include all Block Chain businesses to have a financial services license to ensure confidence in their product as well as crypto exchanges implementing safeguards for purchasers and ensure there are protections for purchasers.
Image Source

The Australian Treasurer Josh Frydenberg has stated that "We want to take cryptocurrencies out from the shadows" He also announced that the reserve bank of Australia will be developing and launching a digital currency and are currently working on the feasibility of said currency Source.

The information released yesterday in Australia is a welcoming one for the emerging tech industry noting that I own digital assets and am commencing my own token. The changes being announced will greatly benefit my position in being able to continue working in this space. We may experience a further set back if the need for a financial services license emerges but I am happy to continue working to ensure regulatory compliance and legality in this field.

Great news in the land down under!

Image sources provided supplemented by Canva Pro Subscription. This is not financial advise and readers are advised to undertake their own research or seek professional financial services.

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