December 5, 2022

Australia plans to create the best jurisdiction for cryptocurrencies

Australia plans to create the best jurisdiction for cryptocurrencies

Australian lawmakers want to make the country the center of the crypto industry and thereby attract cryptocurrency entrepreneurs. To this end, they are calling for the development of a new regulatory regime for digital assets.

A report released on October 20 argues that it is necessary to significantly simplify the work of cryptocurrency companies and access to the banking sector.

Among the several proposals put forward by legislators, it is worth highlighting:

  • Creation of a special license for cryptocurrency exchanges;
  • Creation of a clear regulatory framework for the storage of cryptocurrencies;
  • Establishing a framework for regulating relationships in the decentralized finance (DeFi) sector.

“We don't want to hang a new coat on an old hook.We need to work out and create legislation from scratch to regulate the cryptoindustry, and not try to cram new ideas into the old regulatory framework that was created for other purposes "- said Senator Andrew Bragg, who led the preparation of the report.

Bragg wants to host Australiajurisdiction for the world's cryptocurrencies so that it can even compete with Singapore or the UK. The senator is confident that other government officials will support him as well.

“Entrepreneurs are looking for the best conditions forworks all over the world. If the legislation is better in other countries, they will go there. It is very important to create a good ecosystem at home and be a strong state in the field of the digital economy "Bragg also said.

Where is it more profitable to buy bitcoin? TOP-5 exchanges

For a safe and convenient purchase of cryptocurrencies with a minimum commission, we have prepared a rating of the most reliable and popular cryptocurrency exchanges that support deposit and withdrawal of funds in rubles, hryvnias, dollars and euros.

Site reliability is primarily determined bytrading volume and number of users. By all key metrics, Binance is the largest cryptocurrency exchange in the world. Binance is also the most popular cryptocurrency exchange in Russia and the CIS, since it has the largest turnover of funds and supports transfers in rubles from bank cards Visa / MasterCard and payment systems QIWI, Advcash, Payeer.

Especially for beginners, we have prepared a detailed guide: How to buy bitcoin on a crypto exchange for rubles?

Rating of cryptocurrency exchanges:

# Exchange: Website: Rating:
1 Binance (Editor's Choice) 9.7
2 Huobi 7.4
3 Exmo 6.9
4 OKEx 6.5
5 Bybit 6.3

The criteria by which the rating is set in our rating of crypto-exchanges:

  • Work reliability - stability of access to all platform functions, including uninterrupted trading, deposit and withdrawal of funds, as well as the period of work on the market and the daily trading volume.
  • Commissions - the size of the commission for trading operations within the site and the withdrawal of assets.
  • Additional features and services - futures, options, staking, NFT marketplace.
  • Feedback and support - we analyze user reviews and the quality of technical support.
  • Convenience of the interface - we evaluate the functionality and intuitiveness of the interface, possible errors and failures when working with the exchange.
  • final grade - the average number of points for all indicators, determines the place in the rating.

Australia plans to create the best jurisdiction for cryptocurrencies

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