Law Council of Australia

Business Law Section

Token Mapping – Consultation Paper

The Financial Services Committee and the Digital Commerce Committee of the Business Law Section of the Law Council of Australia (the Committees) prepared a submission in response to the Consultation Paper dated February 2023 issued by Treasury and titled “Token Mapping” (the Consultation Paper).

The Committees support:

  1. the comprehensive token mapping exercise undertaken by Treasury and set out in the Consultation Paper; and
  2. a regulatory approach that balances the opportunities of the crypto ecosystem alongside prudent risk management, while being informed by international approaches to crypto ecosystem regulation.

The Committees acknowledge and agree that:

  1. the Consultation Paper does not address all the risks of investing in crypto assets, but maps the ecosystem against specific portions of the financial services regulatory framework; and
  2. a complete overview of the crypto ecosystem is beyond the scope of this submission.

Read the full submission below.

Last Updated on 25/11/2024

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