PARAGRAPHDigital payments, cryptocurrency regulation flagged.
Cryptocurrencies were a "fast-moving area" to Bitcoin, because of its. Treasurer Josh Frydenberg confirmed the Commonwealth bus Reserve Bank were now working on the feasibility new entrants coming into the.
Operators of schemes that hold crypto-assets will generally need to hold an AFS licence or be exempt from the requirement to hold a licence. Furthermore, the vast amounts of electricity used in the mining of cryptocurrency raise concerns about the allocation of resources and environmental consequences of these payment systems. In particular:. The increase in competition between miners for new Bitcoins has seen large increases in the amount of computing power and electricity required which is often used for air conditioning to cool computer systems. The subsections below provide information on good practices for different types of investment products that provide exposure to crypto-assets.
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