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Proposed Australian exchange licensing could stifle competition: Kraken -Breaking


With crypto regulation reportedly set to ramp up in Australia over the next 12 months, Kraken Australia’s Managing Director Jonathon Miller thinks that a strict crypto regime could stifle local competition.

Led by Crypto-friendly Senator Andrew Bragg tabled Twelve extensive suggestionsThe Fintech sector and the digital asset industry were regulated last month. These proposals include a new licensing system for cryptocurrency exchanges and new laws to regulate decentralized autonomous organisations (DAOs). They also propose a revamp of the capital gains tax in Decentralized Finance (DeFi).