The Australian Senate Committee recommended establishing a friendly regulatory framework for the crypto-asset industry.
The growing global interest in crypto assets has mobilized many countries. One of them, Australia, has proposed a robust and friendly regulatory framework to promote the development of the crypto industry in the country.
In the news shared by Reuters, he pointed out that the laws should focus on issuing tax breaks for crypto trading and a licensing regime for crypto asset trading platforms. However, he stressed the need to provide clarity on the classification of crypto-assets.
Committee Chairman, Senator Andrew Bragg, said that with robust crypto-asset regulations, Australian crypto-asset investors will have more control over their financial activities without being dependent on unnecessary intermediaries.