Australia

Confidentiality is workable so long as the regulated firm can identify the parties and disclose on demand. Encrypted amounts are not the thing being restricted.

What Australia actually says

Australia constrains confidentiality through anti-money-laundering law and not through any coin-specific rule. No Australian instrument prohibits anonymity-enhancing assets; AUSTRAC lists privacy coins, tumblers and mixers among its suspicious activity indicators, and delistings to date have been commercial and bank-driven rather than mandated. The travel rule that starts applying to virtual asset transfers on 1 July 2026 has no minimum value at all, which is stricter than most peers. Transfers to self-hosted wallets are handled as their own category rather than exempted: the sending institution must collect and verify payer information and collect payee and tracing information, with reporting on transfers to unverified self-hosted wallets starting in 2029. Retail CBDC was set aside after Project Acacia, so the retail privacy design question never arose here.

What this means for confidential transactions

Bubble is built for exactly this shape of obligation: amounts and balances live on chain as ciphertexts, computation happens without decryption, and the only disclosure path is an on-chain access list through which an authorized party - an auditor, a supervisor, a counterparty - can request scoped decryption. That is confidentiality from the public, not from the regulator.