Australian crypto entrepreneur and investor Fred Schebesta has described the Australian government’s prioritization of token mapping as “wonderful,” but warns that rushing it could lead to detrimental effects on the economy.
Schebesta’s comments come after Australian Treasurer Jim Chalmers released a statement on Aug. 22 stating that the “treasury will prioritize token mapping work” in 2022 to show how “crypto assets and related services should be regulated.”
Speaking to Cointelegraph, Schebesta believes Australia already has a “fledgling” crypto industry but needs to “align with the other major markets and their regulations.”
Schebesta added that the “intricacies” of token mapping are not clear, and “things are changing as well.”
Schebesta is an Australian entrepreneur and investor — best known as the co-founder of Finder, an Australian comparison website. Schebesta is also a co-founder of crypto investment fund Hive Empire Capital and an advisor for Balthazar, an NFT gaming platform.
He explained that if “we rush” —