Australian senator drafts bill aimed at stablecoin, digital yuan regulation
Senator Andrew Bragg on Monday released a draft bill aimed at regulating crypto exchanges, stablecoins, and the digital yuan. Australian Liberal Senator Andrew Bragg has released a new draft bill aimed at clamping down on digital asset exchanges, stablecoins, and China’s central bank digital currency, the e-Yuan.In a statement on Sept. 18, Senator Bragg stated that “Australia must keep pace with the global race for regulation on digital assets” as “it is essential that the parliament drives law reform” on the matter.The new draft bill, titled Digital Assets (Market Regulation) Bill 2022,....
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A controversial bill to ban the use of cash for transactions over $10,000 has been voted out by the Australian Senate A bill proposed by Australian lawmakers to ban the use of cash for transactions over $10,000 has been killed by a unanimous Senate vote. One Nation Senator Malcolm Roberts brought the motion to remove the bill today after more than a year of trenchant opposition to it from a cross section of the community, including cryptocurrency proponents. Many saw it as infringing on Australians’ rights and freedom to use cash and to protect the privacy of their transactions. Early....
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The Stablecoin TRUST Act proposed the digital assets be identified as “payment stablecoins” which are exempt from many securities regulations. Republican Senator Pat Toomey, the ranking member for the Senate Banking Committee, has drafted a bill proposing a regulatory framework for stablecoins in the United States.According to a draft released Wednesday, the ‘Stablecoin Transparency of Reserves and Uniform Safe Transactions Act’, otherwise known as the Stablecoin TRUST Act, proposed the digital assets be identified as “payment stablecoins” — a convertible virtual currency used as a medium....
An Australian senator has come out as a big fan of blockchain, saying the technology could help facilitate government processes, tighten up financial regulation and more.