s 2A Digital payment tokens
2A.—(1) Subject to subsections (2) and (3), a reference in this Act to a digital payment token is a reference to a digital representation of value that has all of the following characteristics:(a) it is expressed as a unit; (b) it is designed to be fungible; (c) it is not denominated in any currency, and is not pegged by its issuer to any currency; (d) it can be transferred, stored or traded electronically; (e) it is, or is intended to be, a medium of exchange accepted by the public, or a section of the public, without any substantial restrictions on its use as consideration.[33/2019] (2) A reference in this Act to a digital payment token does not include any of the following:(a) money; (b) anything which, if supplied, would be an exempt supply under Part 1 of the Fourth Schedule for a reason other than being a supply of one or more digital representations of value having the characteristics mentioned in subsection (1); (c) anything which —(i) gives an entitlement to receive, or an entitlement to direct the supply of, goods or services from a specific person or persons; and (ii) ceases to function as a medium of exchange after the entitlement has been used.[33/2019] (3) The Minister may, by order in the Gazette, do any of the following:(a) add to the characteristics, or modify or remove any characteristic, in subsection (1) of digital payment tokens for the purposes of this Act, whether generally or for specific circumstances; (b) add to the exclusions, or modify or remove any exclusion, in subsection (2).[33/2019]