Australia plans to establish 12-step cryptocurrency competition

The new Senate statement on digital asset governance is that the Australian government announces support for cryptocurrencies. In October 2021, the Australian Center for Technology and Finance Senate Committee announced the long-awaited agreement on cryptocurrency regulation. The 168-page final report does not affect the equivalence of conversion restrictions. This is a report that shows that Australia has clearly taken a lead in global cryptocurrency investment. Senator Andrew Bragg, Chairman of the Board, said: "Australia can become a leader in digital assets and I think Australia can compete with Singapore, the UK and the US." The four-point agreement sets out: outlines new licenses and regulations, creates a DAO agency under Australian company law, improves tax regulations for the crypto industry, and develops new taxes to promote energy savings and a better mining environment. (co-telegraph)