Australian senator Andrew Bragg has laid down a proposed regulatory framework for the crypto industry.
He announced the legislative proposal titled Digital Services Act (DSA) at the Australian blockchain week conference currently online. The comprehensive proposal touches on almost every aspect of the crypto industry.
Senator Bragg calls for laws to protect crypto customers
At the conference, Senator Bragg stated that the proposed legislation seeks to “protect [crypto] consumers against malicious operators.” It will reform crypto market licensing, debanking, taxing, decentralized autonomous organizations, and custody.
The senator also added that such laws would offer guidance for the crypto industry and show Australia’s willingness to play a more prominent role. The wide scope of the proposed legislation suggests that stakeholders in Australia are not leaving anything to chance.
The crypto industry has been developing rapidly, making it difficult for regulators to keep up. But Br
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