What is Australia's stance on crypto?

Australia is one of many countries that acknowledge the existence and importance of cryptocurrencies. The Australian Government seems to be crypto-friendly and is trying to regulate the crypto firms so they can operate in the best way possible. The Australian Securities and Investment Commission (ASIC) published new ICO, cryptocurrency and mining guidelines on May 30th. ASIC described what a firm needs in order to run a cryptocurrency business in Australia. The guideline specified that if a crypto asset is a financial product, then the issuer and companies dealing with it need to have a license with the Australian Government.