Australia Seeks to Add More Tools to Police the Crypto Sector
- Australia is boosting Its crypto watchdog team for the crypto sector.
- The state regulators also plan to crack down on crypto scams.
- The government is scheduled to comment on a framework for this topic before adopting laws.
In the aftermath of the worldwide collapse of the FTX exchange, Australia has revealed its intentions to provide its authorities with extra resources, including increased personnel for the Securities Commission Exchange (SEC), to better control the risky crypto industry
Australia outlined plans to hand officials more tools to police the volatile crypto sector, including additional manpower for the securities regulator https://t.co/ttIi6AIU3i
— Bloomberg Australia (@BloombergAU) February 3, 2023
According to a statement released on Friday by Treasurer Jim Chalmers, the Australian Securities and Investments Commission is increasing the size of its staff and focusing on digital assets and its enforcement actions.
Following a surge of requests for crypto ransom payments, the Australian Competition and Consumer Commission is allegedly stepping up efforts to crack down on scammers.
Bloomberg claimed that the government is contemplating …
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