Aussie Reforms On The Way For Cryptocurrency Digital Wallets And Bnpl Providers
The announcements follow the release of three government reviews that all found Australia’s regulatory environment has failed to keep up with the changing payments landscape, where half of Australia’s population now make around AU$650 billion non-cash payments every single day. Given the changing landscape, Frydenburg said the federal government would respond to all 41 recommendations across the three reviews. The reforms will look to give Treasury expanded powers in overseeing payments policy and addressing emerging and future gaps in the payments regulatory framework....