Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin,
ether,
dogecoin – Chalmers
says the
future may be crypto
Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin, ether, dogecoin – Chalmers says the future may be crypto
By Shane Wright
December 28, 2024 — 5.00am
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Cryptocurrencies• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта such as bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin will help drive modernisation of Australia’s
financial system, Treasurer Jim Chalmers has declared while revealing the
re-election of Donald Trump• Объект человек » Персоналии по алфавиту » Персоналии на Тр » Трамп, Дональд has already forced a rethink of the emerging
sector’s importance.
Chalmers said while there were legitimate concerns such as the use of crypto
by criminal elements, the possible advantages from the creation of new
investment opportunities should not be curtailed by overzealous regulation.
Cryptocurrencies• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта such as bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin have attracted even more interest since the
re-election of Donald Trump• Объект человек » Персоналии по алфавиту » Персоналии на Тр » Трамп, Дональд. Credit: Bloomberg
Cryptocurrencies• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта, which encompass digital currencies that are effectively
policed by investors rather than authorities such as governments or central
banks, were already one of the world’s fastest-growing investment
opportunities before Trump• Объект человек » Персоналии по алфавиту » Персоналии на Тр » Трамп, Дональд’s election victory in November.
Trump• Объект человек » Персоналии по алфавиту » Персоналии на Тр » Трамп, Дональд has promised to be a “crypto president• Соединённые Штаты Америки (США) » Политика США » Политики США » Президент США
• Соединённые Штаты Америки (США) » Государственное устройство США » Президент США
• Политика » Политика США » Политики США » Президент США
• Государство » Государственное устройство США » Президент США” by loosening regulation around
products, creating a stockpile of bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin – the value of which has surged by a
third since November – and making it easier for crypto investors to gain
access to traditional banking systems.
In Australia, broad investment in cryptocurrencies• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта is still well short of
traditional sectors such as equities and property, but there is growing
interest, particularly among younger people.
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Chalmers said he believed crypto, and the infrastructure surrounding it, could
be a key feature of an improved financial system.
“I think crypto has a role to play, and it’s part of modernising and
innovating in our financial system,” he said.
“We need to make sure there are appropriate protections and guard-rails, but
we need to make sure we don’t overdo that and stomp on part of the industry
which, I think, will be important in the industry.”
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Last month, RBA governor Michele Bullock, who previously headed up the bank’s
payments arm, was less bullish than Chalmers about cryptocurrency• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта and said she
didn’t see a role for it in the economy.
“I don’t really see a role for it in, certainly in the Australian economy or
payments system,” she said.
Governments, central banks and policymakers around the world are watching
Trump• Объект человек » Персоналии по алфавиту » Персоналии на Тр » Трамп, Дональд’s policy agenda with particular interest, given he has promised to
impose wide-scale tariffs , deport millions of undocumented workers and
possibly intervene in official interest rate settings .
Chalmers said Trump• Объект человек » Персоналии по алфавиту » Персоналии на Тр » Трамп, Дональд’s approach to crypto was also uppermost in the
government’s mind.
“Of the list of changes in policy emphasis we expect from the incoming Trump• Объект человек » Персоналии по алфавиту » Персоналии на Тр » Трамп, Дональд
administration, this is one of the ones we’ve spent a lot of time thinking
about,” he said.
“We think about trade and tariffs, we think about financial regulation, we
think about deregulation more broadly. We think about the energy
transformation, and we think about crypto.”
The government is planning to introduce legislation next year that would
create licensing arrangements for businesses that offer digital assets such as
crypto and stablecoin – a type of cryptocurrency• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта pegged to the value of
another currency or commodity.
The licensing is in part due to growing crypto-related scams that were
estimated last year to have cost Australians about $180 million in losses.
AUSTRAC this month warned that it believed specialist crypto ATMs were being
used by criminal organisations in South-East Asia to launder the money of
Australian-based criminals.
Treasurer Jim Chalmers believes cryptocurrencies• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта will drive modernisation and
innovation across the nation’s financial system. Credit: Alex Ellinghausen
Chalmers said regulations around crypto had to balance security issues for
potential investors in the asset class against being overly onerous.
“Our interest here is to recognise it’s legitimate, it’s important, it’s
growing,” he said. “We need to make sure that people are protected, but we
don’t want to overdo it in a way that stifles an industry we believe in.
“Obviously, the multinational crime element of it is something people are
focused on with good reason, but I think we would be doing ourselves a
disservice if we overfocused on the downside and didn’t sufficiently focus on
the upside.”
One of the downsides is the use of crypto by criminals attracted to the way
its underlying technology makes it difficult to track major financial
transactions. In some cases, criminals have demanded ransom payments in
crypto.
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This masthead can also reveal that cryptocurrency• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта assets are increasingly
being seized by the Australian Federal Police as part of their inquiries.
Between July and November this year, the AFP had collected more than $20
million worth of crypto. Over the same period, more than $28 million in cash
was seized by the AFP’s criminal asset confiscation taskforce.
All seized cash goes into an account used for community safety programs.
The AFP has collected $62 million in crypto since the middle of 2019.
The value of that crypto may be growing. Once the AFP collects it, the agency
does not track the ongoing value of the crypto (which is managed by the
Australian Financial Security Authority).
Since July 1 this year, the value of bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin has soared from $US63,352 to
$US97,742. As recently as December 17, bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin had reached $US106,470.
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