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Australia’s Senate Economics Legislation Committee has rejected Senator Andrew Bragg’s cryptocurrency regulation bill. The Digital Assets (Market Regulation) Bill 2023 aimed to impose minimum standards regarding minimum standards for crypto exchanges, disclosure and cybersecurity.
Bragg has been a long-time supporter of digital asset regulation, first handing down a map back in 2021, following it with The Digital Assets Bill earlier this year.
The committee, chaired by Senator Jess Walsh, rejected the bill on Monday.
The Senate Committee highlighted several reasons for its decision. It said that the bill lacked specifics and appeared to be misaligned with the current government’s stance on digital assets.
ABOUT THE AUTHOR
Senior Technology Journalist
Tegan Jones is a senior technology journalist at SmartCompany. A multi-award-winning journalist, she has been reporting on technology, telecommunications and gaming for the past 10 years. She regularly appears on mainstream media channels as an expert tech commentator. Her previous roles include editor of Gizmodo Australia and global reviews editor at Finder. She has also served as a reporter and editor across Business Insider, Lifehacker and Kotaku Australia. Tegan was the co-host of one of the top technology podcasts in Australia, Queens of the Drone Age. You can find her on Twitter @Tegan_Writes.
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