A Crypto Friendly Future For Australia, Senators Propose New Regulations
The Australian senate committee made 12 proposals to modify the current license and regulations over crypto assets, as well as the laws of taxation. The lawmakers believe Australia could take the lead in the digital economy if the laws were amicable. The Senate Committee on Australia as a Technology and Financial Center (ATFC) states that […]
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A new political party in Australia wants to replace the existing political system with a system that allows people to vote using bitcoin, according to Reuters. The Flux Party believes that voters can use bitcoin to grant votes on legislative proposals. It believes bitcoin will enable representative democracy in the information age. The party’s goal is to elect six senators who will not propose policies but will vote on legislation at the direction of their members, who will deliver votes on every bill online. “If they didn’t have to be senators, if they could just be software or robots....
By using the concept of Bitcoin and blockchain technology, real democracy can be reinstated in the world of politics. The concept of Bitcoin and blockchain technology can be used as an example of how to revolutionize certain aspects of life. Politics are a very likely candidate, as the way we vote or create political parties needs to be revamped. The Flux Party in Australia is taking that principle to heart, as they are labeling themselves as the “Bitcoin of politics”. Quite a bold statement but their ideology holds particular merits that are worth exploring further. If The Flux Party has....
Two U.S. senators are working on a bipartisan, broad-based regulatory framework for cryptocurrency. “The work we’re doing is going to be a very complex and intensive review of the different aspects of this industry,” said one of the senators.
US Senators to Introduce Comprehensive Framework to Regulate Crypto Industry
U.S. Senators Kirsten Gillibrand (D-N.Y.) and Cynthia Lummis (R-Wyo.) are working together on “a broad-based regulatory framework” for how the crypto industry should be regulated, they explained Thursday at a Politico Live....
Australia may be the most intense hotbed of Bitcoin activity on Earth. Followers of this website have seen this country run the gamut on Bitcoin acceptance and public consumption. Some Australian cities are ready to run with Bitcoin as their primary, as our article on Tasmania's Launceston revealed. As I reported just days ago, Australia is ready to access fiat currency-based Good and Services Taxes (GSTs) upon Bitcoin. Australian residents have also paid tens of thousands of dollars in bills with Bitcoin. Now, the Australian government is prepared to have a "Senate inquiry" on the role of....
A Senate committee in Australia has made a number of proposals to address the lack of proper regulations for the cryptocurrency space. The lawmakers believe the country needs new rules for its fintech and digital asset industries to be able to compete with jurisdictions that are already attracting some of its own crypto firms. Senate Committee Calls for Accommodating Crypto Rules in Australia The rapid expansion of the crypto space has caught many governments by surprise, but while other nations are already providing market participants with some regulatory clarity, Australia is yet to....