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Australia’s Treasury and Reserve Bank Held Consultations With Coinbase, Others: Report

Australia’s central bank and Treasury have held private meetings with international crypto industry executives on the future of digital assets and regulation in the nation, according to The Australian.

Coinbase’s vice president of international policy, Tom Duff Gordon, was among those who made a submission around the Treasury’s token mapping consultation paper released last month after flying in from London. Token mapping is the process of identifying the key activities and functions of products in the crypto ecosystem and mapping them against existing regulatory frameworks.

The Reserve Bank of Australia (RBA), Australia’s Treasury and Coinbase didn’t immediately respond to CoinDesk’s requests for comment.

“From a central bank perspective, they’re interested in financial stability and the links between a fiat traditional financial system and the crypto system,” Gordon told The Australian. “The Treasury in Australia is more interested and involved in setting the framework and we believe the RBA will increasingly get more involved as we move forward.”

Gordon, along with Coinbase Asia Pacific managing director John O’Loghlen, are said to have held several meetings with government and policy stakeholders in Australia.

Their submission was focused on disclosure to ensure “that when consumers look at financial information, they’re not being misled and that people have the information that they need to make informed decisions,” Gordon said.

Read More: Australia’s Central Bank Taps Mastercard and Others to Test CBDC Use Cases

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