{"id":54323,"date":"2021-12-08T14:07:19","date_gmt":"2021-12-08T12:07:19","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=54323"},"modified":"2025-09-03T19:52:14","modified_gmt":"2025-09-03T16:52:14","slug":"australia-outlines-plans-for-cbdc-issuance-and-crypto-regulation","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/australia-outlines-plans-for-cbdc-issuance-and-crypto-regulation\/","title":{"rendered":"Australia outlines plans for CBDC issuance and crypto regulation."},"content":{"rendered":"<p>Australia plans to issue its own digital currency while introducing a framework for cryptocurrencies, said Treasurer Josh Frydenberg, according to the portal <a href=\"https:\/\/www.9news.com.au\/national\/bitcoin-australian-government-planning-digital-currency-launch-as-regulation-looms-for-cryptocurrency\/5e6fbf01-9e28-4ea7-b4e9-aeac85f3e0da\">nine.com.au<\/a>.<\/p>\n<p>The Treasurer confirmed that the government and the Reserve Bank are now examining the possibility of creating a <span data-descr=\"central bank digital currency\" class=\"old_tooltip\">CBDC<\/span>.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>&#8220;And, undoubtedly, this is a rapidly changing field. A digital revolution is taking place in our financial sector,&#8221; he added.<\/p>\n<\/blockquote>\n<p>Frydenberg noted that cryptocurrencies must operate under a well-thought-out regulatory framework.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>&#8220;We want to bring them out of the shadows,&#8221; the official emphasised.<\/p>\n<\/blockquote>\n<p>The government wants exchanges and crypto companies to obtain financial licences.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>&#8220;This will give consumers greater confidence and trust in the counterparties they deal with,&#8221; Frydenberg said.<\/p>\n<\/blockquote>\n<p>Over the past decade, more than 800,000 Australians have owned digital assets at least once, the treasurer said. He described cryptocurrencies as a &#8220;rapidly evolving area&#8221; that the government needs to get ahead of.<\/p>\n<p>Frydenberg warned that Buy Now, Pay Later services and digital wallets would also face heightened regulatory scrutiny.<\/p>\n<figure class=\"wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter\">\n<div class=\"wp-block-embed__wrapper\">\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">We\u2019re bringing Australia into the digital age with the biggest shake up to Australia\u2019s payment systems in 25 years.<\/p>\n<p>This is all about modernising the rules around how we transact everyday \u2014 from <a href=\"https:\/\/twitter.com\/hashtag\/Crypto?src=hash&#038;ref_src=twsrc%5Etfw\">#Crypto<\/a>, to Buy Now, Pay Later &#038; Digital Wallets. <a href=\"https:\/\/t.co\/RCUXde3tU3\">pic.twitter.com\/RCUXde3tU3<\/a><\/p>\n<p>\u2014 Josh Frydenberg (@JoshFrydenberg) <a href=\"https:\/\/twitter.com\/JoshFrydenberg\/status\/1468433502622212097?ref_src=twsrc%5Etfw\">December 8, 2021<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script>\n<\/div>\n<\/figure>\n<p>The Reserve Bank of Australia <a href=\"https:\/\/u1f987.com\/en\/news\/four-central-banks-will-test-cross-border-cbdc-settlements\">is involved in the &#8216;DANBAR&#8217;<\/a> project testing cross-border CBDC settlements under the BIS.<\/p>\n<p>Follow ForkLog on <a href=\"https:\/\/twitter.com\/ForkLog\" target=\"_blank\" rel=\"nofollow noopener\">Twitter<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Australia plans to issue its own digital currency while introducing rules for cryptocurrencies. This was stated by Treasurer Josh Frydenberg.<\/p>\n","protected":false},"author":1,"featured_media":54324,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[108,1095,36],"class_list":["post-54323","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-australia","tag-cbdc","tag-regulation"],"aioseo_notices":[],"amp_enabled":true,"views":"20","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/54323","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=54323"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/54323\/revisions"}],"predecessor-version":[{"id":54325,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/54323\/revisions\/54325"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/54324"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=54323"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=54323"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=54323"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}