Australia's Treasury and Reserve Bank Held Consultations With Coinbase, Others

Private meetings have been held this week around the Treasury's token mapping consultation paper.

AccessTimeIconMar 15, 2023 at 10:11 a.m. UTC
Updated Mar 16, 2023 at 5:59 a.m. UTC

Australia's central bank and Treasury have held private meetings with international crypto industry executives including Coinbase's vice president of international policy, Tom Duff Gordon, on the future of digital assets and regulation in the nation.

Gordon was among those who made a submission about the Treasury's token mapping consultation paper, released last month, after flying in from London. Token mapping is the process of identifying the key activities and functions of products in the crypto ecosystem and mapping them against existing regulatory frameworks.

“The Australian Treasury’s token mapping exercise is one of the most detailed and thoughtful papers we have seen on the topic, and it sets a strong foundation for their forthcoming draft rules for crypto exchanges and custodians, which we are keen to see later this year," Gordon told CoinDesk in an email. "It’s great the industry is able to engage in this open and transparent regulatory rule-making process."

The Australian Treasury said it "maintains stakeholder relationships across all policy areas and meetings are a normal part of consultation."

The Reserve Bank of Australia (RBA) confirmed a meeting was held after a request from Coinbase.

"Some members of staff from the Payments Policy and Financial Stability departments met with Coinbase this week, as part of the Bank’s ongoing liaison with industry," an RBA spokesperson said via email.

Gordon, along with Coinbase Asia Pacific managing director John O’Loghlen, held several meetings with government and policy stakeholders in Australia, said The Australian, which reported the consultation earlier.

“From a central bank perspective, they’re interested in financial stability and the links between a fiat traditional financial system and the crypto system,” Gordon told The Australian. “The Treasury in Australia is more interested and involved in setting the framework, and we believe the RBA will increasingly get more involved as we move forward.”

The Coinbase submission was focused on disclosure to ensure "that when consumers look at financial information, they’re not being misled and that people have the information that they need to make informed decisions," Gordon said.

UPDATE (March 15, 10:53 UTC): Changes sourcing to, and adds comment from, Coinbase.

UPDATE (March 16, 05:42 UTC): Adds comment from RBA.

UPDATE (March 16, 05:57 UTC): Adds comment from Australia's Treasury.


Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.

CoinDesk - Unknown

Amitoj Singh is CoinDesk's regulatory reporter covering India. He holds BTC and ETH below CoinDesk's disclosure threshold of $1,000.

Learn more about Consensus 2024, CoinDesk’s longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to to register and buy your pass now.