Australian senator drafts bill aimed at stablecoin, digital yuan regulation

Australian senator drafts bill aimed at stablecoin, digital yuan regulation


Australian Liberal Senator Andrew Bragg has released a new draft bill aimed at clamping down on digital asset exchanges, stablecoins, and China’s central bank digital currency, the e-Yuan.

In a statement on Sept. 18, Senator Bragg stated that “Australia must keep pace with the global race for regulation on digital assets” as “it is essential that the parliament drives law reform” on the matter.

The new draft bill, titled Digital Assets (Market Regulation) Bill 2022, calls for the introduction of licenses for digital asset exchanges, digital asset custody services, stablecoin issuers, as well as disclosure requirements for facilitators of the e-Yuan in Australia.

Australia must keep pace in the digital assets race: a bill to protect consumers, promote investment & protect our interests.

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Media statement: https://t.co/VxFnAKnh1v
New Bill: https://t.co/rtMj2t9Ng2

— Senator

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