The crypto markets are always in flux but this month has been particularly eventful. There were a number of positive steps taken by Australia toward adoption, but prices continued to bounce up and down as investors try to figure out where the best opportunities lie. So what’s been happening in the crypto world this month? Let’s take a look.
Cryptocurrency news
Australia continues to adopt cryptocurrency
Australia is proving to be a leader in the adoption of cryptocurrency and blockchain technology. The Treasury department has recently announced a Token Mapping exercise, the RBA announced plans to launch a limited-scale Central Bank Digital Currency (CBDC) pilot and Australia ranked #1 on a global index for our interest in crypto.
While cryptocurrency and blockchain are still relatively new technologies, it’s clear Australia is taking a proactive approach to investigating the opportunities that these technologies present. The Token Mapping exercise should help to create a clearer picture of the blockchain ecosystem in Australia, while the proposed CBDC will explore the use cases and potential economic benefits of CBDCs. These initiatives will likely help position Australia at the forefront of the global crypto economy.
Global financial markets take a hit, along with crypto
The US Federal Reserve has been gradually raising interest…
