Trading computers have long been used in Australia, with the earliest ever machine being built in the early 1980s and the latest model in 2016.
The Australian Securities and Investments Commission (ASIC) is building a machine to allow traders to trade Bitcoin, and its expected to be ready by early 2019.
The computer will have a capacity of 500 users, and will have access to all the Bitcoin exchanges in Australia and overseas, including Mt Gox, Coinbase, Bitfinex, BTC-e and Bittrex.
It will be controlled by the Australian Securities Exchange and the Australian Government, and is expected to launch in 2021.
“The ASIC is committed to building an ASIC-controlled Bitcoin exchange in Australia to provide the best platform for traders, including the convenience and privacy of customers and investors,” ASIC spokesperson Michael Cairns said in a statement.
ASIC is a part of the Australian Federal Government, but it has also been criticised for allowing a Chinese-owned bitcoin exchange, BTCChina, to operate for a year without regulation. “
At the moment, the exchange is the only one operating in Australia.”
ASIC is a part of the Australian Federal Government, but it has also been criticised for allowing a Chinese-owned bitcoin exchange, BTCChina, to operate for a year without regulation.
The Chinese-based exchange has been a source of controversy since it became a bitcoin hub in the Chinese capital.
In August, a Chinese judge ordered the closure of BTCChina for three months.