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

Written by: Qadir AK

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Qadir AK

Qadir Ak is the founder of Coinpedia. He has over a decade of experience writing about technology and has been covering the blockchain and cryptocurrency space since 2010. He has also interviewed a few prominent experts within the cryptocurrency space.

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Sep 19, 2022

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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.’

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