Australian lawmakers send back crypto bill by Andrew Bragg
Introduced in March 2023, Australia’s bill on digital asset market regulation has faced a series of report delays by the Senate, and it's now been sent back for amendments. Australia’s Senate Committee on Economics Legislation has finally provided feedback to the cryptocurrency bill introduced by senator Andrew Bragg. The committee on Sept. 4 reported on the draft bill referred to as “The Digital Assets (Market Regulation) Bill 2023,” asking the bill authors to add some amendments. The Senate particularly concluded that it would pass the bill with minor amendments such as removing the term nonfungible tokens (NFTs) from the definition of regulated digital assets. Among other recommendations, the lawmakers asked the bill authors to exclude certain asset-based tokens — such as the Gold and Silver Standard and the BetaCarbon Token — from the definition of stablecoin. The Senate also asked to extend the transition period from three to nine months. In the report, the Senate also urged...