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Australia vs Micronesia

Crypto regulation comparison

← Back to map | Australia | Micronesia
Australia

Australia

Micronesia

Micronesia

Legal
No Regulation

Cryptocurrency is legal and well-regulated in Australia. AUSTRAC oversees AML/CTF compliance for exchanges, ASIC handles consumer protection, and the ATO treats crypto as property for tax purposes. Australia has been developing a comprehensive licensing framework for digital asset platforms.

Micronesia has no specific cryptocurrency regulation. Uses the US dollar as its official currency.

Tax Type Capital gains
Tax Type None
Tax Rate 0-45%
Tax Rate N/A
Exchanges Yes Yes
Exchanges Yes Yes
Mining Yes Yes
Mining Yes Yes
Regulator ASIC, AUSTRAC, ATO
Regulator Department of Finance and Administration
Stablecoin Rules Stablecoins to be regulated under proposed payments framework legislation
Stablecoin Rules No stablecoin regulation
Key Points
  • Digital currency exchanges must register with AUSTRAC and comply with AML/CTF Act
  • ATO treats cryptocurrency as a CGT asset; holding for 12+ months qualifies for 50% discount
  • ASIC regulates crypto products that qualify as financial products under the Corporations Act
  • Treasury released a token mapping consultation in 2023 to classify digital assets
  • Proposed licensing regime for digital asset platforms under development
Key Points
  • No specific cryptocurrency legislation
  • Uses the US dollar as official currency
  • Very limited financial infrastructure
  • Minimal crypto adoption
  • No licensing framework for crypto services
Sources
Sources