{"id":439120,"date":"2022-04-29T04:56:21","date_gmt":"2022-04-29T01:56:21","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/senators-bragg-and-lummis-discuss-crypto-laws-collaboration-between-us-australia\/"},"modified":"2022-04-29T04:56:21","modified_gmt":"2022-04-29T01:56:21","slug":"senators-bragg-and-lummis-discuss-crypto-laws-collaboration-between-us-australia","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/senators-bragg-and-lummis-discuss-crypto-laws-collaboration-between-us-australia\/","title":{"rendered":"# Senators Bragg and Lummis discuss crypto laws collaboration between US, Australia"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a306585a085c\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a306585a085c\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/senators-bragg-and-lummis-discuss-crypto-laws-collaboration-between-us-australia\/#%E2%80%9D_Senators_Bragg_and_Lummis_discuss_crypto_laws_collaboration_between_US_Australia_%E2%80%9C\" >&#8221; Senators Bragg and Lummis discuss crypto laws collaboration between US, Australia  &#8220;<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_Senators_Bragg_and_Lummis_discuss_crypto_laws_collaboration_between_US_Australia_%E2%80%9C\"><\/span>&#8221; Senators Bragg and Lummis discuss crypto laws collaboration between US, Australia  &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<p><img decoding=\"async\" src=\"https:\/\/images.cointelegraph.com\/images\/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDQvNjhjMGJiZGItMzY2YS00ZGQzLTk3YmMtNGZlYzNlM2IxYzRlLmpwZw==.jpg\" \/><\/p>\n<div class=\"post-content\" data-v-2a0745c6>Australian Senator Andrew Bragg hasmet with U.S. Senator Cynthia Lummis to discuss potential collaboration on cryptocurrency regulation between the two countries. <\/p>\n<p>Senator Bragg is a crypto-friendly politician from the ruling Liberal Party (a conservative center right party) that has been one of the driving forces behind a proposed forward-thinking regulatory scheme in Australia. <\/p>\n<p>Last year he fronted the Senate Committee on Australia as a <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/technology\/\" data-internallinksmanager029f6b8e52c=\"4\" title=\"Technology\" target=\"_blank\" rel=\"noopener\">Technology<\/a> and Financial Center (ATFC) which tabled 12 extensive regulatory proposals relating to taxation, decentralized autonomous organizations (DAOs) and company licensing. Two months later, Treasurer Josh Frydenburg outlined intentions to begin implementing at least six of the proposals by mid-2022. <\/p>\n<p>Since then the proposals have been refined and packaged into the Digital Services Act, however, its implementation is up in the air. With the federal election set to take place next month, it is unclear if the act will be adopted if the opposition Labor party is voted in, given it is yet to provide a concrete stance on the crypto sector. <\/p>\n<p>Bragg spoke with Lummis \u2014 who is a known crypto proponent and Bitcoin (BTC) hodler \u2014 via a video call this week, and told Cointelegraph that the discussion focused mainly on the \u201copportunities for regulatory equivalents.\u201d<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Thanks for the great visit! <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/3tqrwhAj0v\">https:\/\/t.co\/3tqrwhAj0v<\/a><\/p>\n<p>\u2014 Cynthia Lummis  (@CynthiaMLummis) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/CynthiaMLummis\/status\/1519067727150911488?ref_src=twsrc%5Etfw\">April 26, 2022<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><br \/>\nWhile he wouldn\u2019t go into specifics, Bragg emphasized the importance of aligning on as many issues as possible with the U.S. given the historical partnership between the two nations: <\/p>\n<blockquote><p>\u201cI see that as an economic growth area, as a security objective, because we have a unique relationship with the United States, which is cultural, economic, military. So we want to be close to our friends in the United States on these issues as much as we can.\u201d<\/p><\/blockquote>\n<p>He also suggested that both governments are looking to set global standards for crypto regulation, noting that \u201cthe executive order from President Biden is reasonably similar to what Treasurer Frydenberg released last December.\u201d <\/p>\n<p>\u201c[If] two large, sophisticated financial economies like the United States and Australia come together that could help drive standards in other parts of the world,\u201d he said. <\/p>\n<p>In terms of collaboration, or at least regulatory equivalence, Bragg noted that it \u201clooks like they&#8217;ve been able to move more quickly on getting different sorts of products into the market. So we&#8217;ll see what lessons we might be able to pick up there.\u201d <\/p>\n<p><em><strong>Related: <\/strong><\/em><strong><em>Failure to launch: Australia\u2019s first 3 crypto ETFs all miss launch day<\/em><\/strong><\/p>\n<p>One area that may differ is the two nations\u2019 <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>roach to launching a central bank digital currency (CBDC), with Bragg noting that the U.S. seems more receptive to the idea. Australia\u2019s Reserve Bank has stated there\u2019s no compelling need for one due in part to the nation\u2019s instant digital payments network and Bragg stressed that he was \u201cvery cautious\u201d about it at this stage. <\/p>\n<blockquote><p>\u201cI think I&#8217;m, you know, probably more aware of the issues and the risks of going there. So we just need to get the Treasury report done on this issue. I&#8217;m hoping that can be done, you know, quickly after the election.\u201d<\/p><\/blockquote>\n<p>Asked if Labor being voted in would derail Bragg\u2019s efforts at crypto reform over the past two years, the Senator frankly stated that he had no idea. <\/p>\n<p>\u201cI mean, you\u2019ll have to talk to Labor about it. But I mean, they haven&#8217;t got any policy. So, yeah, I certainly hope not, but I mean, they don&#8217;t have any policies,\u201d he said. <\/p>\n<p>Bragg also delivered a speech at the Accounting Business Expo in Sydney yesterday, as he outlined his political parties\u2019 intention to provide \u201cgood regulation\u201d as opposed to stifling regulation. <\/p>\n<blockquote><p>\u201cRegulation which creates certainty while inviting the possibility of more innovation, including innovation which we cannot anticipate. Regulation which protects the interests of consumers and investors on a level playing field \u2013 while allowing for flexibility, inventiveness, and experimentation.\u201d<\/p><\/blockquote>\n<p>\u201cRegulation which provides a safety net when the market fails but holds individuals accountable for the consequences of their actions,\u201d he added.<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"markets_outlook\"><\/template><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/senators-bragg-and-lummis-discuss-crypto-laws-collaboration-between-us-australia\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; Senators Bragg and Lummis discuss crypto laws collaboration between US, Australia &#8220; Australian Senator Andrew Bragg hasmet with U.S. Senator Cynthia Lummis to discuss potential collaboration on cryptocurrency regulation between the two countries. Senator Bragg is a crypto-friendly politician from the ruling Liberal Party (a conservative center right party) that has been one of&#8230;<\/p>\n","protected":false},"author":1,"featured_media":439121,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDQvNjhjMGJiZGItMzY2YS00ZGQzLTk3YmMtNGZlYzNlM2IxYzRlLmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[75269,20358,71511,70934,70289],"class_list":["post-439120","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-us-government","tag-australia","tag-government","tag-regulation","tag-senate"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/439120","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=439120"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/439120\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/439121"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=439120"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=439120"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=439120"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}