Australian Senate Committee Opposes Digital Assets Market Regulation Bill

The Australian Senate Economics Legislation Committee has recommended against passing the Digital Assets Market Regulation Bill, stating that it lacks the necessary detail and certainty for investors and the industry. The committee expressed concerns about the bill's misalignment with international regulatory standards and its potential to lead to regulatory arbitrage. Despite this, the committee commended the government's efforts to consult with industry stakeholders and urged further consultations to craft more suitable legislation