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Australian Parliament to Debate Crypto Exchange Licensing Bill

Thu, 03/30/2023 - 06:21
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Alex Dovbnya
In response to the current regulatory uncertainty surrounding cryptocurrency, Australia's legislature is considering a new bill proposed by Senator Andrew Bragg
Australian Parliament to Debate Crypto Exchange Licensing Bill
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Australia's legislature is considering a new bill, introduced by Senator Andrew Bragg, that could establish a licensing framework for cryptocurrency trading platforms. 

With the industry facing regulatory ambiguity, Bragg underscores the urgency to develop suitable legislation via parliamentary action.

The bill outlines three types of licenses for exchanges, custodians as well as stablecoin issuers such as Tether.

Senator Bragg highlights the importance of swift measures for ensuring proper regulation through parliament, contrasting it with the somehow clandestine approach taken in the US.

Bitcoin Surges Toward $30,000 as Market Momentum Builds
This development follows legal proceedings initiated by American regulators against Binance and Coinbase, the world's leading crypto trading platforms. 

Binance, the largest crypto trading platform globally, faces a lawsuit from US authorities for allegedly operating unlawfully in the country and violating financial statutes.

The Securities and Exchange Commission (SEC) issued a Wells notice to crypto behemoth Coinbase, cautioning about potential breaches of U.S. securities regulations.

Earlier this year, the Australian administration published a token mapping consultation document. 

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at