New rules for crypto assets will protect consumers and innovators
theconversation.comIf you spend any time among the cryptocurrency community you’ll come across the mantra “HODL”. Originally a typo for “hold” on a Bitcoin forum, it has become all-purpose advice to anyone looking at the day’s price fluctuations and thinking of selling their assets.
To HODL is to trust the process and keep your eyes on the long term. In Australia, we are mid-way through a process of creating rules for crypto assets that will provide some certainty for this growing industry.
Though it was begun by the previous government, it’s a bipartisan process and the new government can have faith in it. HODLing to the current course will protect consumers and give Australian businesses the certainty to keep innovating.
More than a million Australians have invested in cryptocurrency. However, these assets currently exist in a regulatory grey zone.
