{"id":231747,"date":"2021-12-09T00:00:22","date_gmt":"2021-12-08T19:00:22","guid":{"rendered":"https:\/\/leadpakistan.com.pk\/news\/?p=231747"},"modified":"2021-12-09T00:00:22","modified_gmt":"2021-12-08T19:00:22","slug":"australia-proposes-new-laws-to-regulate-crypto-bnpl","status":"publish","type":"post","link":"https:\/\/leadpakistan.com.pk\/news\/australia-proposes-new-laws-to-regulate-crypto-bnpl\/","title":{"rendered":"Australia proposes new laws to regulate crypto, BNPL"},"content":{"rendered":"<p> Melbourne<br \/>\nAustralia will create a licencing framework for cryptocurrency exchanges and consider launching a retail central bank digital currency as part of the biggest overhaul of its A$650 billion-a-day ($463 billion) payments industry in a quarter of a century.<br \/>\nThe country will also broaden its payment laws to cover online transaction providers like Apple Inc (AAPL.O) and Alphabet Inc\u2019s (GOOGL.O) Google as well as buy-now-pay-later (BNPL) providers like Afterpay Ltd (APT.AX), ending their run of operating without direct supervision.<br \/>\n\u201cIf we do not reform the current framework, it will be Silicon Valley that determines the future of our payment system,\u201d Treasurer Josh Frydenberg said in speech.<br \/>\n\u201cAustralia must retain its sovereignty over our payment system.\u201d<br \/>\nAustralia\u2019s conservative government is positioning itself at the front of global efforts to rein in large technology companies, while taking a more inclusive approach than countries like India and China, which have criminalised cryptocurrency.<br \/>\nThe use of cryptocurrency and non-cash payments has exploded in Australia during the pandemic as people\u2019s lives shifted online.<br \/>\nAbout 55 million non-cash payments are made in Australia every day, according to government data, with almost half the population using their phones to make payments. The number of Australians transacting in cryptocurrency has surged 63% so far this year, compared with last year.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Melbourne Australia will create a licencing framework for cryptocurrency exchanges and consider launching a retail central bank digital currency as part of the biggest overhaul of its A$650 billion-a-day ($463 billion) payments industry in a quarter of a century. The country will also broaden its payment laws to cover online transaction providers like Apple Inc [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[],"class_list":{"0":"post-231747","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-world"},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Australia proposes new laws to regulate crypto, BNPL<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/leadpakistan.com.pk\/news\/australia-proposes-new-laws-to-regulate-crypto-bnpl\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Australia proposes new laws to regulate crypto, BNPL\" \/>\n<meta property=\"og:description\" content=\"Melbourne Australia will create a licencing framework for cryptocurrency exchanges and consider launching a retail central bank digital currency as part of the biggest overhaul of its A$650 billion-a-day ($463 billion) payments industry in a quarter of a century. 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