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Australia Tightens Crypto Rules, Skips Strategic Reserve

  • The Australian government focuses on regulating digital assets instead of creating a crypto reserve, aiming for transparency and security in the sector.
  • Stricter regulations may slow innovation, raising concerns about Australia’s competitiveness in the evolving crypto landscape.
  • There are no plans to establish a strategic cryptocurrency reserve in Australia at the moment, with the main focus being on controlling digital asset platforms.
  • The growing number of Bitcoin ATMs in Australia indicates a rising need for convenient access to digital assets, but this development is accompanied by more rigorous control measures by AUSTRAC.

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