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Australia Launches Crypto Education Platform and Bill Faces Vote

Key Takeaways
  • Australia has launched an educational platform "Earn and Learn" to boost crypto adoption and awareness among its citizens
  • Senator Andrew Bragg warns that rejecting the Digital Assets (Market Regulation) Bill could drive Australian investors to unregulated markets, harming the domestic market
  • The Digital Assets (Market Regulation) Bill, aimed at regulating crypto for investor security, is currently awaiting a Senate vote in the next session
07-Sep-2023 By: Sudeep Saxena
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Australia Launches "Earn and Learn" Platform to Boost Crypto Education

Australia is planning to introduce new regulations for cryptocurrencies to boost its adoption in the country. On September 6, Australia launched a new educational platform called "Earn and Learn" to educate its citizens about cryptocurrencies. The platform aims to provide all the information related to crypto and to educate its citizens about cryptocurrency.

The rising popularity of cryptocurrency is posing new challenges for various countries. The number of investors in crypto is increasing daily, prompting experts to warn investors about the associated risks. Different countries are also developing new strategies to regulate the crypto market. Australia is also planning to introduce new rules to promote cryptocurrency in the country by launching an educational platform.

Senator Warns Rejected Bill Could Harm Australia

Australian Senator Andrew Bragg has issued a warning: If the Digital Assets (Market Regulation) Bill gets rejected, Australian investors might turn to unregulated markets and move their investments elsewhere, possibly out of the country. This shift could lead to more foreign investment and harm Australia's own market. The Senate Committee on Economic Legislation recommended rejecting the bill on September 4 due to concerns about its impact on the crypto industry. However, Bragg disagrees with this recommendation.

Bragg's 2023 Bill Faces Senate Vote

The Digital Assets (Market Regulation) Bill 2023, introduced by Andrew Bragg in March 2023, aims to boost investor confidence by proposing regulations for user security, stablecoins, licensing exchanges, and custody requirements. Despite this, there are ongoing demands to reject Bragg's bill. The bill is currently before the Senate, and a vote is expected in the next session.

In summary, Australia is taking steps to promote cryptocurrency through educational platforms and potential regulation. However, there is debate over the proposed Digital Assets (Market Regulation) Bill, with some advocating for its rejection due to potential negative impacts on the crypto industry. The fate of the bill will likely be decided in the next Senate session. 

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