Binance Australia recently welcomed Ben Rose as their General Manager. With his extensive experience in financial regulation, he is well suited to provide perspective on digital asset regulation.
Rose’s main point is that digital asset regulation should provide investor protection and, at the same time, should be flexible enough to accommodate innovation. To achieve this, it is important that regulations are tailored and proportionate. This way, governments are able to create a safe haven for investors, while eliminating any unnecessary barriers to entry that could stifle innovation.
The Australian government is taking this approach to digital asset regulation. While existing restrictions have been tailored and amended to create a safer trading environment, the government has taken a flexible stance by not suddenly implementing new regulations that could slow industry growth. For instance, Australia’s Anti-Money Laundering and Counter-Terrorism Financing Bill 2017 was amended to ensure digital asset traders are compliant with financial services laws.
Rose emphasized that Binance Australia is always abiding by regulations and looking for new ways of improving its trading environment. Binance Australia is seeking to become a global leader in digital asset regulation and compliance by leveraging its innovative technology and comprehensive KYC (Know Your Customer) processes.
In conclusion, Rose believes that digital asset regulation should be tailored appropriately to protect investors while allowing innovation. Binance Australia is actively working to meet regulatory compliance and lead the digital asset industry in the right direction.
