The Albanese government has committed to review Australia’s financial regulatory sandbox as part of a suite of reforms to regulate crypto exchanges and other digital asset platforms.
The review, which will get underway later this year, comes almost a year after the Enhanced Regulatory Sandbox (ERS) was deemed “under-utilised and not fit for purpose” by the peak body.
In its Statement on Developing an Innovative Australian Digital Asset Industry on Friday, the government said sandboxes are increasingly a “core feature of the innovation agenda” overseas and “could play a greater role in facilitating new products and business models”.
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