ADFSAC will recommend policies for the secure storage of digital assets, tax treatment, FATF recommendations for countering money laundering and terrorism financing, and FSB standards along with classifications for digital and virtual assets.  The effective implementation of the FATF’s “Travel Rule” and registration and licensing requirements for VASPs (Virtual Asset Service Providers) and VAs (Virtual Assets) are also recommended. Additionally, ADFSAC will contribute to IP law amendments for DeFi and NFT projects.  

ADFSAC encourages Australia to continue to adopt a technology-neutral approach, ensuring that laws remain neutral in the face of technological advancements.