The assistant governor of the Reserve Bank of Australia noted that pilot projects have highlighted several key areas where CBDCs could be of great use.
The $5-billion estimation is based on three major seizures linked to the Bitfinex hack and Silk Road, meaning the actual holdings could be much larger.
Australian crypto exchanges have largely praised the Treasury’s latest proposal to place crypto exchanges under the existing financial services license regime, though some worry it could put the crypto industry into a TradFi-shaped box.
The Australian Treasury’s newly released consultation paper will require crypto exchanges to apply for financial services licence from the local financial regulator.
The bill will mandate cryptocurrency firms to adhere to licensing requirements, maintain financial records and provide regulators with the authority to conduct audits.
A 75-minute recording obtained by Cointelegraph shows the exact moment former Alameda Research CEO Caroline Ellison told employees about their use of FTX customer deposits.