The statements went so far as to propose that coordinated cross-border regulation is necessary given Bitcoin’s potential to disrupt the global remittance industry.
The RBA suggested it could seek cooperation from the Bank for International Settlements, an international organisation of central banks, and its Committee on Payments and Market Infrastructures (CPMI), which includes representatives from Belgium, Canada, France, Germany, Italy, Japan, the Netherlands, Sweden, Switzerland, the UK and the US.
The RBA is currently investigating the subject as part of its Economics References Committee, which examines issues as diverse as tax avoidance and affordable housing.
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