Australian Treasurer Jim Chalmers revealed that the government will release a consultation document in early 2023 as part of its "Token Mapping" initiative.

Chalmers said the Anthony Albanese-led government was "taking action to improve the regulation of cryptocurrency service providers and ensure additional safeguards are in place for Australians".

He added that the consultation document will cover how certain crypto assets should be regulated, while also delving into the framework for firm licensing, asset custody and consumer protection. (Cointelegraph)