Australian Senator Introduces New Draft Bill To Further Control Digital Asset Exchanges

Australian Senator Introduces New Draft Bill To Further Control Digital Asset Exchanges appeared first on Coinpedia – Fintech & Cryptocurreny News Media| Crypto Guide

Andrew Bragg, an Australian Liberal Senator, has proposed a new draft bill that aims at exhibiting greater control on digital asset exchanges, stablecoins, and China’s central bank digital currency, the e-Yuan. The draft bill titled ‘Digital Assets (Market Regulation) Bill 2022’, calls for the introduction of licenses for digital asset exchanges, digital asset custody services, and stablecoin issuers, along with the disclosure requirements for facilitators of the e-Yuan in Australia.

The draft bill consultation is open until Oct. 31, 2022, and is calling for “community feedback.” In addition, the Australian Labor government is working on “crypto asset reforms” in order to ‘improve the way Australia’s regulatory system manages crypto assets.’