Australia‘s brokerage platform SelfWealthto domestic customers in the country The first platform to offer crypto trading getting ready to be.
Australians as well as crypto money USA, ASX and soon Singapore They can trade their securities in one place. Existing clients will not need to register a new account and only minor interface changes will be visible. However, this is currently awaiting approval from the financial watchdog AUSTRAC.
SelfWealth is one of Australia’s longest running crypto exchanges for this service. BTC Markets with contract signed.
Carlone Bowers, CEO of BTC Markets, said that customers will start from the second quarter of 2022. 5 digital assets stated that they could trade with
Ease of use and lower fees still attract more investors into the crypto space despite the recent price drops.
Australians Love Crypto
It is stated that SelfWealth decided to introduce cryptocurrencies after discovering that over 30% of its members are already trading in such assets. There are currently around 800,000 crypto investors in Australia.
On the other hand, over 300,000 Australians are said to have traded over $21 billion in crypto on the BTC Markets platform. Moreover, Australia’s chief tax authority has announced that in 2021, more than 100,000 citizens paid taxes on their crypto earnings.
Pro-Crypto Regulations
In addition, Australian regulators want the country to become the crypto hub of the world. This includes technology innovation and mining. Last year, a Senate committee proposed tax laws that could benefit blockchain technology adoption. On the other hand, the country’s financial regulators bitcoin and Ethereum gave the green light to funds traded on exchanges that tracked its performance.