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News 2 years ago

Australia plans to build crypto competitive advantage in 12 steps

Committee chairman Senator Andrew Bragg

The latest Senate report on digital asset regulation is a pro-crypto statement of intent from the Australian government.

In October 2021, the Australian Centre for Technology and Finance Senate Committee released its long-awaited recommendations on how to regulate cryptocurrencies. The 168-page final report can be grouped into 12 recommendations aimed at creating legitimacy without Striking the right balance between inhibiting innovation. The report is a landmark report that shows Australia is clearly committed to putting itself at the forefront of global crypto investment.

“Australia can be a leader in digital assets and believes Australia can compete with Singapore, the UK and the US”

Committee chairman Senator Andrew Bragg
  • Four key recommendations from the report:
  • Introduce a new set of encryption-specific licenses and regulations.
  • Types of DAO organisations in Australian company law.
  • Improve tax regulations for crypto transactions.
  • Create new tax incentives to encourage energy efficient and environmentally friendly mining.
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