ANNOUNCEMENT | 21 OCTOBER 2021

 

Senate Select Committee on Australia as a Technology and Financial Centre releases its final report

The Senate Select Committee on Australia as a Technology and Financial Centre has released its final report.

The Committee, chaired by Senator Andrew Bragg, put forward 12 recommendations extending to licensing, taxation reform, and custodial and depository services, to name a few, for the “regulation of cryptocurrencies and digital assets, issues relating to ‘de-banking’ of Australian FinTechs and other companies, the policy environment for neobanks in Australia, and options to replace the Offshore Banking Unit”.

The recommendations are particularly exciting for this industry, especially for the recognition of a Decentralised Autonomous Organisation company structure.

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