Australia Needs Regulations to Facilitate Crypto Business, Senate Committee R...
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....
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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 […]
Reuben Bramanathan is associate counsel at Coinbase and Lecturer of Digital Currency Regulation at the University of Nicosia. He was involved with a number of submissions to the Australian Senate inquiry. Here, he explains the importance of the Senate Economics References Committee Report on Digital Currencies and what it means for bitcoin. The release of the Senate Economics References Committee Report on Digital Currencies marks the start of the next phase for bitcoin in Australia. The 74-page report, which is the result of 10 months of hearings, submissions and research by the....
A recent development has stirred discussion among legislators, crypto enthusiasts, and industry stakeholders in Australia. The nation’s Senate, via its Economic Legislation Committee, has shown resistance against a Bill aiming to regulate the cryptocurrency trading platforms operating within its borders. InnovationAus.com, an organization researching public policy and business innovation, has shed light on this standoff. […]
Australia Senator Andrew Bragg says local crypto founders are keen to embrace regulation in a bid to propel the digital asset sector into the mainstream. Australian Senator for New South Wales Andrew Bragg has asserted that robust regulations would “bring credibility and validity” to the country’s emerging digital asset sector.Speaking to local publication Finder on November 2, the chairperson of the Senate Committee on Australia as a Technology and Financial Centre, commented that the country’s crypto sector has shown a willingness to embrace greater regulatory oversight in a bid to....
The Australia Securities Exchange says crypto investors in the country need to be mindful of the dangers of holding their cryptocurrencies on exchange platforms. The Australia Securities Exchange (ASX) has weighed in on the issue of crypto custody amid the ongoing discussions within the country’s Senate Select Committee on Financial Regulatory Technology.In a submission to the committee on July 16, ASX highlighted crypto custody on centralized exchanges as a significant risk factor for investors.The ASX submission outlined the implications of crypto exchange custody arguing that investors....