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Aussie execs refute 'argument' to treat crypto as financial products

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Australian crypto executives have urged caution over lumping all digital assets in the same boat as financial products, after recent comments from Australia's assistant treasurer on the maSpeaking to the Sydney Morning Herald on Jan.

22, Assistant Treasurer and Minister for Financial Services Stephen Jones was commenting on the state of crypto regulation in the country.

He confirmed that the government was on track with its “token mapping” exercise this year to determine which crypto assets to regulate, with a consultation process "to start soon" with the industry, according to a crypto exchange executive.

However, Jones said he was “not that attracted” to setting up a completely new set of regulations for something that he believes in essence, is a financial product.“I don’t want to pre-judge the outcomes of the consultation process we are about to embark on.

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