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Australia vs Papua New Guinea

Crypto regulation comparison

← Back to map | Australia | Papua New Guinea
Australia

Australia

Papua New Guinea

Papua New Guinea

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.

Papua New Guinea has no specific cryptocurrency regulation. The central bank has not issued formal guidance on crypto.

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 Bank of Papua New Guinea
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
  • Central bank has not issued formal crypto guidance
  • Limited internet and financial infrastructure
  • Minimal crypto adoption
  • No licensing framework for crypto services
Sources
Sources