Australian senator drafts bill aimed at stablecoin, digital yuan regulation

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Australian senator drafts bill aimed at stablecoin, digital yuan regulation
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Australian Liberal Senator Andrew Bragg has just released a draft bill aimed at regulating crypto exchanges, stablecoin issuers, and entities dealing with China's digital yuan in Australia.

Speaking to Cointelegraph, Senator Bragg said Australia has “quite a risk exposure, as an economy, and that’s one of the reasons why we need to have a serious program for managing disruption, managing risks, that emanate from the development of a CBDC.”

Senator Bragg said that this isn’t “an accusatory position to take” it’s simply just being “prepared and gathering information” which he thinks is entirely “reasonable.”

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