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Aussie senate committee proposes overhaul of crypto taxes, DAOs and exchange licenses
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The Senate Committee on Australia as a Technology and Financial Center (ATFC) has just tabled its third and final report in Parliament which has 12 far-reaching recommendations for the regulation of the digital asset and fintech industry down under.
It proposes new licenses for crypto exchanges, new laws to govern Decentralized Autonomous Organizations, an overhaul of capital gains tax in DeFi, and a tax discount for crypto miners using renewable energy.
In general, the report found that there is a need for more regulatory clarity and certainty while avoiding stifling innovation with onerous requirements.
A key recommendation is to establish a new DCE Market License for digital currency exchanges including requirements relating to capital
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