The program will trial an apparent global first in which Aussie crypto users who activate two-factor authentication on their cryptocurrency accounts will be paid AUD 10 (USD 6.6) worth of Bitcoin.
Ever since the collapse of FTX, Australia has taken steps to tighten its crypto regulation policy. The year 2023 has seen Australian regulators take action against crypto-related companies such as Block Earner and eToro.
In 2022, Aussies reported a loss of AUD 221 million (USD 146 million) in cryptocurrency, an increase of 162.4% from the previous year, according to the announcement.
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