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Finally, Australia’s new administration is clarifying its stance on crypto legislation

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News Tech: The Australian Labor party has finally spoken out about its plans for crypto legislation three months after winning the election and into office.

A “token mapping” effort was one of the 12 recommendations in a senate inquiry report from last year on “Australia as a Technology and Financial Center,” which Treasurer Jim Chalmers revealed. The industry, which was eager to see if the ALP administration would accept the report, warmly welcomed it.

According to Cointelegraph, Treasury will also start working on some of the other suggestions soon, such as a licencing framework for crypto asset service providers dealing in non-financial product crypto assets, suitable requirements to protect consumer crypto asset custody, and a review of the decentralised autonomous organisation (DAO) company-style structure.

 

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