The Reserve Bank of Australia and Treasury has been holding private meetings with executives from Coinbase, with discussions revolving around the future of crypto regulation in Australia.
An RBA spokesperson confirmed recent reports that these private meetings had occurred, stating that Coinbase met with the RBA’s Payments Policy and Financial Stability departments this week “as part of the Bank’s ongoing liaison with industry.
Coinbase vice president of international policy Tom Duff Gordon, who was reported to have flown in for the meetings, has also confirmed to that meetings took place with Treasury in Canberra and Sydney.
Gordon said that the meetings touched on the government’s token mapping efforts, and Coinbase also shared insights on global best practices concerning licensing and custody.
The Australian Treasury’s token mapping exercise was announced on Aug. 22, and is aimed at categorizing digital assets in a way to work them into existing regulatory frameworks.
A consultation paper was released by the Treasury on Feb. 3, for which the Treasury sought feedback from the crypto industry.
In contrast, Coinbase co-founder and CEO Brian Armstrong has been critical of the approach to crypto regulation in the United States, echoing accusations that the Securities and Exchange Commission is regulating by enforcement and claiming that the SEC wants firms to register with them despite there being no way to register.
