Crypto-currency is becoming more and more popular all over the world, with different countries taking different approaches to regulate it. In Australia, the government has decided to take a positive approach to crypto-currency, announcing a new “crypto-badge of approval” program that will make it easier for businesses to adopt crypto-currency.
The program, which is being run by the Australian Securities and Investments Commission (ASIC), will allow businesses to self-certify that they meet certain requirements in order to be able to use crypto-currency. The requirements include having a robust KYC/AML program in place, as well as ensuring that customers are made aware of the risks associated with crypto-currency.
The program is voluntary, and businesses that choose to participate will be able to display a “crypto-badge” on their website or in their store, to show that they have been certified by ASIC. The badge will also include a QR code that can be used to verify the business’s certification.
The program is currently in a pilot phase, with a few businesses already having been certified. ASIC plans to roll out the program, more broadly, later this year.
Trading Crypto Safely
This is a move that is likely to be welcomed by the crypto-community in Australia, as it will make it easier for businesses to adopt crypto-currency. It also sends a signal that the Australian government is taking a positive approach to crypto-currency, and is willing to work with businesses to help them use it safely.
The program is also a good reminder for investors to be careful when trading crypto-currency. Even though the badge of approval will make it easier to find reputable businesses that are using crypto-currency, it is still important to do your own research before investing in any cryptocurrency.
How the Crypto Badge of Approval Works
The crypto badge of approval is a voluntary program that ASIC is running to help businesses adopt crypto-currency safely.
To be certified, businesses must have a robust KYC/AML program in place, as well as ensure that customers are made aware of the risks associated with crypto trading.
The Australian government is taking a positive approach to crypto-currency, announcing a new “crypto-badge of approval” program that will make it easier for businesses to adopt crypto-currency.
Benefits of the Badge of Approval
If you are a crypto trader or investor, you want to be sure that you are using a reputable agency like the bitcoin Aussie system. However, since not all exchanges are legitimate, the badge of approval will be a great idea. There are many benefits associated with this, some of them being:
Improved Crypto Trading Security: By only using exchanges that have the badge of approval, you can be more confident that your personal and financial information will be safe.
Reduced Fraud: The crypto badge of approval will help to reduce the chances of you being scammed by a fake exchange.
Greater Transparency: The badge of approval will also help to increase the transparency of the cryptocurrency market, as it will be easier to identify scams and illegitimate exchanges.
As you can see, the crypto badge of approval means well for all genuine crypto traders and authentic exchanges. If you want to be a part of this growing digital world, then you should invest in Bitcoin now and make the most out of it.
So if you are looking for a safe and transparent way to trade crypto-currency, be sure to look for the badge of approval. This will help to ensure that you are dealing with a reputable exchange and that your information is safe.
Going forward, crypto trading will have minimized risks, thanks, to these measures that are being put in place.