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Shiba Inu Listed by Major Australian Exchange

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Mon, 25/03/2024 - 15:27
Shiba Inu Listed by Major Australian Exchange
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Shiba Inu (SHIB), the second most popular meme cryptocurrency, has been listed by Bitcoin.com.au, according to a Monday announcement. 

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The exchange, which serves roughly 300,000 customers across Australia, was established back in 2014. This makes it one of the oldest digital asset trading platforms in the country. 

The exchange offers Bitcoin as well as a slew of different cryptocurrencies, including Aave (AAVE), Basic Attention Token (BAT), Bitcoin Cash (BCH), Compound (COMP), Dai (DAI), Dogecoin (DOGE).

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Bitcoin.com.au is far from being the first Australian cryptocurrency exchange to list SHIB. As reported by U.Today, CoinJar, the country's longest-running digital asset exchange, added support for the meme coin back in December 2021. 

A survey, which was taken at the peak of the previous bull market, showed that Shiba Inu was actually more popular in Australia than such established cryptocurrencies as XRP and Cardano.

According to data provided by CoinGecko, the token is currently trading at $0.00002962 on major spot exchanges. 

Crypto regulations in Australia 

In late 2023, the Australian government proposed tighter regulations on cryptocurrency trading platforms, requiring them to obtain licenses from the local financial services regulator, ASIC. 

The proposed rules are supposed to protect consumers and prevent collapses of digital asset platforms by increasing oversight and setting minimum standards.

Senator Andrew Bragg has criticized the Labor government for delaying crypto regulation. However, his bill has been rejected due to the lack of detail, international alignment, and potential adverse effects on the industry.

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