Australian Senator Proposes Bill to Regulate Stablecoins and Digital Yuan

Australian Senator Andrew Bragg has reportedly issued a new draft bill to regulate digital asset exchanges, stablecoins, and e-Yuan (China’s central bank digital currency). The draft bill, the Digital Assets (Market Regulation) Bill 2022, calls for the introduction of licenses for digital asset exchanges, digital asset custody services and stablecoin issuers, as well as disclosure requirements for facilitators of the e-Yuan in Australia. The draft bill will be subject to a public consultation open until 31 October 2022. In the meantime, the Australian Labor government is reportedly working on crypto asset reforms to improve the way Australia’s regulatory regime deals with crypto assets.

Sources: https://cutt.ly/1VghLo3