Australia vs Niger
Crypto regulation comparison
Australia
Niger
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.
Niger has no specific cryptocurrency regulation. As a WAEMU member, it falls under BCEAO oversight.
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 national cryptocurrency legislation
- BCEAO provides regional monetary oversight
- Part of the WAEMU monetary zone using the CFA franc
- Very limited crypto adoption and internet access
- No licensing framework for crypto businesses