DAO regulation in Australia: Issues and solutions, Part 1
Certain laws need to be passed before DAOs can be properly regulated, which the Australian government aims to achieve. Lawmakers in Australia want to regulate decentralized autonomous organizations (DAOs). In this three-part series, Oleksii Konashevych discusses the risks of stifling the emerging phenomenon of DAOs and possible solutions.On March 21, 2022, during Blockchain Week Australia, Australian Senator Andrew Bragg made a few interesting statements, one of which was about the intention of lawmakers to introduce regulations for decentralized autonomous organizations.Per se, it is not....
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DAOs appeared as the response to red tape and obsolete approaches in governance. Will regulation in Australia stifle innovations? Lawmakers in Australia want to regulate decentralized autonomous organizations (DAO). In this three-part series, Oleksii Konashevych discusses the risks of stifling the emerging phenomenon of DAOs and possible solutions.Regulating a decentralized autonomous organization (DAO) as a company, first of all, means registration as a company. But who remembers why we need that registry in the first place? Will anyone question whether a blockchain-based DAO needs....
Progressive DAO regulation means questioning accepted institutions: public registries, licensing and corporate rules. Are lawmakers ready? Lawmakers in Australia want to regulate decentralized autonomous organizations (DAOs). In this three-part series, Oleksii Konashevych discusses the risks of stifling the emerging phenomenon of DAOs and possible solutions.Crypto anarchy is unlikely to be the future that the majority of people support. Company regulation, in its essence, has a lot of positive aspects or at least, a good intention, albeit one often embodied in a red tape that stifles....
Australia intends to do a virtual stocktake of cryptocurrency assets held by its citizens, the new executive power in Canberra announced this week. The move is viewed as an indication that the center-left government plans to regulate the country’s crypto space.
Treasury Embarks on ‘Token Mapping’ to Underpin Crypto Regulation in Australia
As part of efforts to adopt rules for the cryptocurrency sector, Australia’s Treasurer Jim Chalmers unveiled on Monday that his department is preparing to conduct “token mapping,” Reuters reported....
In Australia, things might be looking up for the bitcoin community. A group of local bitcoiners is working to form a local chapter of the Bitcoin Foundation, and there is a new trading platform for the community. Around two weeks ago, a new exchange based in Sydney called BTC Markets went live. The exchange, which supports bitcoin and litecoin, was started by Martin Bajalan, a bitcoin enthusiast who is among a team of nine working to set up an Australian chapter of the Bitcoin Foundation. The exchange provides trades in real time, and charges no fees for fund transfers, making its money....
As two people who have been working closely with blockchain for a while now, we have no doubt about the technology’s potential to radically transform the financial industry. A far better way to build and maintain interconnected ledgers – the heart of the financial system – it seems predestined for the job. But while banks and FinTech companies around the world are busy developing blockchain-based solutions, we are likely to see blockchain “go live” in other industries first. This is something of a paradox, and so we think worth a closer look. Regulation, regulation, regulation. As Oliver....