Coinbase Is Meeting With Australian Banking Regulators Over The Crypto Regulations

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The vice president of Coinbase has revealed that they are meeting with the Aussie Bank regulators to discuss the local regulations of crypto. As per reports of Cointelegraph, the vice president told them that these meetings happened in Canberra and Sydney.

The Reserve bank of Australia and Treasury are holding a private meeting with the executive team of Coinbase to discuss the future of regulations upon crypto in Australia. Responding to the requests of comments, the Bank’s spokeperson told cointelegraph that these reports of these private meetings are true. He confirmed that in the meeting, they discussed about the bank’s current liaison with this crypto industry.

The vice president of coinbase was flying for these meetings. He told cointelegraph that the meeting occurred in Sydney and in Canberra. The vp said that this meeting was about discussions on the token mapping of the Aussie government and it also shared some insights on the global area.

Coinbase Had Meeting With Australian Banks:

This exercise of token mapping first announced in nd August and its goal was to categorize the assets in such a way so that they could include them in their existing framework. The consultation paper was released on 3rd February. Then the Aussie treasury department seeked feedback from the industrials on the framework.

SEC however, has come under fire for the way cryptocurrencies are regulated in the USA. According to Coinbase co-founder and CEO Brian Armstrong, the SEC wants businesses to sign with them although there is no mechanism to do so.

The recently obtained documents by the Aussie financial review under the freedom and information law suggested that the crypto legislation in the coutry can be drawn out soon,.