Hamilton Locke has made a submission to the Senate Economics Committee on Digital Assets, which discusses industry feedback and appropriate regulations for the crypto asset industry.
This consultation paper presents a significant opportunity to discuss what appropriate legislative frameworks are required to:
- provide regulatory certainty to support the continued growth of the industry;
- protect consumers;
- promote competitive offerings;
- facilitate technology development and innovation; and
- help solidify Australia as a competitive market that can grow and attract talent.
Our submission addresses key concerns with how the proposed regulation will operate, including issues around how stablecoins are defined, which exchange services will be regulated and what industry concerns were not addressed in the Bill.
You can read our submission here.
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Hamilton Locke’s Funds and Financial Services team are technical specialists that have a broad and deep understanding of blockchain technology, cryptocurrencies and digital assets, exchange, Decentralised Autonomous Organisations (DAO), alternate platforms and cryptocurrency products and service offerings.
Our knowledge of cryptocurrencies and digital assets, combined with our traditional financial services expertise, is market leading.
For more information, please contact Jaime Lumsden, Nicholas Pavouris and Annabelle Parmegiani.
