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News Explorer — ASIC's Comparison of Bitcoin to Cigarettes Raises Concerns About Stifling Crypto Innovation in Australia

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Dec 12, 5:55 am
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ASIC's Comparison of Bitcoin to Cigarettes Raises Concerns About Stifling Crypto Innovation in Australia

The Australian crypto industry faces uncertainty after ASIC's Digital Assets Lead compared Bitcoin to cigarettes in prison during a liaison meeting discussing the application of NCP legislation to digital assets. Industry leaders worry that applying financial regulations to tools like non-custodial wallets could stifle innovation.

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