Australia Wants to Integrate Crypto Into the Economy in New White Paper

In a white paper published by the Australian Treasury, the country’s government says it will embrace tokenization, real-world assets (RWAs), and central bank digital currencies (CBDCs) as part of a broader push to modernize its financial system.

The government’s plan will direct different parts of the government to research different aspects of digital assets, including tokenization and CBDCs.

What to know:

*Australia plans to integrate digital assets into its economy, inspired by EU and Singapore.

*The government will pilot tokenized money trials and introduce a licensing structure for crypto exchanges.

*Efforts are underway to address de-banking concerns, following similar discussions in the U.S.