Coinbase: Concerned about continued law enforcement in Australia

Cryptocurrency exchange Coinbase (COIN) claims to be concerned about Australia's "ongoing enforcement regulation", and John O'Loghlen, an executive at the cryptocurrency exchange, said this is "not helpful" for the overall direction of the industry before Australia's upcoming draft legislation. With the recent approval of spot ETF products in Australia and the United States, good macro themes and continued growth in consumer adoption, O'Loghlen said he wanted to ensure that they would not stir the pot in this gray area before the draft legislation was introduced. The Australian Treasury previously announced that it plans to release draft legislation by the end of 2024, covering licensing and custody rules for crypto asset providers. (coindesk)