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Australia should change laws to accommodate crypto, Senate report says
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moneycontrol.comAustralia needs to introduce new regulations for digital asset miners, such as tax discounts and a licensing regime for cryptocurrency exchanges, to be "competitive with Singapore, the United Kingdom and the United States", a Senate report said.
The report, published by the Senate's Committee on Australia as a Technology and Financial Centre on October 20, also calls for clarity on rules about when banks can refuse to deal with a business customer involved in cryptocurrency.
Many of Australia's top financial institutions have not engaged with the cryptocurrency sector, despite its huge growth in the past year, due to its high risks.
Australia must fix its rules to make space for entities with a "decentralised autonomous company structure" and
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