Crypto Regulations in Australia: A Timeline
It’s been a wild ride for the blockchain and cryptocurrency communities internationally — I’m sure you’ll agree. In the past few years, ICOs have raised billions. Billions have also been scammed, lost and hacked. ICOs have been banned, allowed, encouraged, and rebanned.
The Land Down Under has definitely managed to catch some attention, as we have had Australian-based projects such as CanYa ($12 million), Havven ($38.6 million), PowerLedger ($34 million), and Shping ($8.5 million) raise their own millions through the sale of a utility token. Having worked with some of these projects (and many more!), we at Mo Works have seen first-hand the incredible amount of innovation coming into this space.
One question we have seen asked by both the members in our many communities and our clients on an increasingly regular basis:
Regulations in Australia — what’s coming next?
Are they pro-crypto?
Anti?
Will regulations tighten or relax?
To quote the great Carl Sagan: “You have to know the past to understand the present.” So, we trawled through news, blogs, and legal documents to assemble a timeline of the most important regulatory events and help display the ‘big picture’.
At Mo Works, we believe the crypto-regulatory history of Australia outlines a progressive and positive outlook.
Although decisions have sometimes been controversial, the current track record shows a willingness to adapt and learn based on feedback — despite Australia having such a regulated tax system. This contrasts very well with many of the other regimes out there who have opted for harsher laws, or less clarity.
Once again, Australia is gearing up to put itself ahead of the pack and become one of the leading forces in blockchain.
To ensure your project is at the leading edge of Australia’s innovation industry, get in touch with us at Mo Works Creative Agency. With our specialisation in ICOMarketing and tokensale launches, we can fuel your company success on the blockchain and beyond!
To find out more about Mo Works’ ICO services, please contact ico@moworks.com.au
Please be aware that this list was put together by our cryptocurrency team, not tax lawyers or investment advisors. This in no way constitutes financial or legal advice. If you disagree with any of the dates or facts posted here, please email samuel@moworks.com.au
