Shiba Inu (SHIB) Wins Listing On Major Exchange

Shiba Inu (SHIB) has secured a listing on a major Australian exchange, Bitcoin.com.au. This development which was announced on X, on Monday 25th March, 2024, signifies a growing presence for SHIB within the established cryptocurrency market.

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A Trusted Platform for Australian Crypto Investors

Founded in 2015, Bitcoin.com.au is a veteran digital asset trading platform serving approximately 300,000 Australian customers.

It boasts a robust selection of cryptocurrencies, including industry leaders like Bitcoin (BTC) alongside altcoins such as Aave (AAVE), Basic Attention Token (BAT), Bitcoin Cash (BCH), Compound (COMP), and Dai (DAI). Notably, Bitcoin.com.au also offers Dogecoin (DOGE), the forerunner of the meme coin community.

SHIB Joins the Ranks: Expanding Options for Australian Investors

The listing of SHIB on Bitcoin.com.au comes after CoinJar, Australia’s longest-running digital asset exchange, introduced support for the meme coin in December 2021. This underscores the growing popularity of SHIB among Australian cryptocurrency investors.

Interestingly, a survey conducted during the previous bull market indicated that SHIB even surpassed established players like XRP and Cardano in terms of recognition within the Australian market. SHIB is trading at 0.00003041, according to Coinmarketcap with a 2.77% increase in the last 24 hours.

Australian Regulatory Landscape for Cryptocurrencies

The Australian government is actively shaping the regulatory environment for cryptocurrency trading platforms. In late 2023, a proposal was introduced requiring these platforms to obtain licenses from the Australian Securities and Investments Commission (ASIC), the country’s financial services regulator.

This regulatory framework aims to enhance consumer protection and prevent potential collapses of digital asset platforms by establishing stricter oversight and outlining minimum operational standards.

While Senator Andrew Bragg, a prominent figure in Australian politics, has voiced criticism regarding the perceived delay in implementing crypto regulations by the current government, his proposed bill was ultimately rejected.

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Reasons cited for the rejection included a lack of comprehensive details, concerns about alignment with international regulations, and potential negative consequences for the nascent Australian cryptocurrency industry. The listing of SHIB on Bitcoin.com.au signifies a significant step towards wider adoption of the meme coin within the Australian cryptocurrency market.

With established platforms embracing SHIB, Australian investors now have greater access to this digital asset. However, the evolving regulatory landscape in Australia presents both opportunities and challenges for the future of SHIB and the broader crypto industry in the country.

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