Australian legislators propose changes to crypto bill following review
Australia’s Senate Committee on Economics Legislation has concluded its review of the “Digital Assets (Market Regulation) Bill 2023,” initially introduced by Senator Andrew Bragg. The committee’s report, released on Sep. 4, calls for certain amendments to the draft bill, marking a cautious yet essential step toward the comprehensive regulation of digital assets in Australia. One notable amendment pertains to the definition of regulated digital assets. The committee recommended the removal of non-fungible tokens (NFTs) from this category. This is a crucial clarification as NFTs, which have unique attributes, differ fundamentally from crypto currencies like Bitcoin(BTC) and Ethereum(ETH). The @AuSenate report on my digital asset market regulation bill has just been tabled. Statement & report https://t.co/YVq4md3bDX pic.twitter.com/LGGaNK8fzH — Senator Andrew Bragg (@ajamesbragg) September 4, 2023 The committee also advised on the classification of stablecoins, sug...